FXstreet.com (Córdoba) - The Australian Dollar continues to rally against the Dollar and recently posted a fresh 14-month high. AUD/USD rebounded at 0.9000 and rose sharply to 0.9092 posting the highest price since August 6th of last year.
On the upside the next resistances above 0.9100 lies at 0.9130 and 0.9205. The pair is building a support zone around 0.9050; the next one lies at 0.9000.
AUD/USD trades at 0.9060/65, 1.75% above today's opening price action. The pair is accumulating an increase of more than 400 pips since the beginning of the current week.
Michael Malpede, Analyst at EasyForex affirms: The surprise improvement in Australia's employment rate will fuel speculation that the RBA could elect to make additional rate hikes in November in response to the strengthening of the Australian domestic economy. AUD will remain well supported on breaks by RBA rate hike speculation with a number of analysts now looking for AUD to reach parity with the USD in the months ahead.