Forex Analysis : AUD/USD
Momentum is decreasing, but as even the month chart shows, there is no major technical turning point developing just yet.
•The Aussie bulls have showed great prowess since mid March, with it climbing from 0.9702 and ending the week at 1.0383.
• With Gold currently in the midst of consolidation, we expect the Aussie to do the same provided that the key resistance at 1.0400 to 1.0410 holds firm.
• If however it powers past 1.0410, then we view 1.0475 then 1.0540 as potential VST target points.