AUDUSD:  More Strength Highlights The 0.8810 Level

GBPUSD- More strength continues to be seen as AUDUSD was seen breaking above its brief consolidation high at 0.8674 in early trading today targeting the 0.8810 level, its Aug 17'08 high. Its broader medium term uptrend triggered off the 0.6246 level in Feb'09 remains on course as a break of the latter level will put the pair on the path to further upside gains towards the 0.8950 level, its Aug 10'08 high. The pair is in its eight months of upside gains since bottoming out in Feb'09. Downside objectives are located at the 0.8674 level, the Sept 11'09 high and then the 0.8543 level, its Sept 14'09 low. Others are located at the 0.8476 level, its Aug 14'09 high and its Jun'09 high at 0.8262. On the whole, having broken to upside and resumed its medium term uptrend, AUDUSD continues print higher prices.

Support       Comments

0.8674          Sept 11'09 high

0.8543         Sept 14'09 low

0.8476        Aug 14'09 high

Resistance   Comments

0.8810          Aug 17'08 high

0.8950          Aug 10'08 high

0.9000          Psycho level

Daily Chart: AUDUSD

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