FXstreet.com (Barcelona) - Australian Dollar's recovery from 0.8735 low on late December extended higher after Friday's NFP report, and uptrend continued in Asian trade up to a fresh 5-week high at 0.9320, under bullish pressure at the moment.
According to Rajoo C, technical analyst at Precise Trader, the pair will remain bullish while above 0.9240/05: The Daily Trend has finally started to break out of the Range but it is too early to conclude the break. The Hourly Trend has been marching higher during Asian session and the bulls are coming in very strong ,9240-05 are the critical levels to watch to maintain the bullish outlook.
Resistance levels, according to Rajoo C, lie at 0.9365, 0.9410 and 0.9480. On the downside, support levels lie at 0.9265, 0.9205 and 0.9145.