AUDUSD Ends Near the Highs of the Day
18
Jun
2012
2012
The AUDUSD finished the day Monday near its highs. The cross appears to have momo on its side ahead of the Reserve Board Minutes. Which will be released in early Asian trading. The pair has found resistance the .618 Fib from the may lows around 1.0140. If this level is broken we could see a run up towards 1.0220. Support can be now be found at the 50 fib near 1.0027. So it's truly a fib affair for this pair at the moment. The best trade would be to wait for a move back towards trend line support around 1.0120 for a move higher but I'm not sure that opportunity is going to present itself.
Sup 1.0027/00
Res 1.0140
