AUD/USD Climbs above 100-DMA to hit fresh 6-week highs

Today the AUD/USD hit a 6 week top at 0.7280 and our analysts believe there is more to gain on this movement up, but you need to pay attention to the important pivot points ahead.
  1. Current resistance level at 0.7285, is the 23.6% Fibonacci retracement level of the 0.8136-0.7021 Jan. – Oct. downfall. A break above this level can open a path for the pair to rise another 150 pips towards 0.7445.
  2. Technical indicators on the daily chart have started gaining positive momentum and support prospects for an extension of the bullish trajectory.
  3. Acceptance above 100-day SMA, and a subsequent move beyond the mentioned hurdle should continue driving the pair higher in the near-term. 

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