AUDUSD new high

Yesterday witnessed new highs, as the recovery from the RBA rate announcement selloff produced sufficient momentum to take out the July 2008 .9849 high. Some consolidation back to the area of the previous highs around the .9720 – .9750 would not be impossible and this could develop into a more prolonged consolidation which would test the lower boundary of the uptrend channel somewhere around the .9660 – .9630 area.