AUDUSD Slowly Gliding Higher
2012
The AUDUSD continued to consolidate in a tight range on Thursday. The pair has moved in a 100 pip range so far this week. It is interesting to note that the cross did not fall on Thursday with overall risk. In the short term support can be found at 1.0220 and resistance is at Thursday's high around 1.0330. The pair has continued to make higher highs and lower lows throughout the week. If after the release of NFP the cross break either resistance at 1.0350 or support at 1.0220 we could see a test of either support at the .618 fib at 1.0140 or strong daily price resistance at 1.0460.
Sup 1.0220 1.0140
Res 1.0350 1.0460