The Australian dollar demonstrates a recovery after having confirming the strength of the 200 period moving average, now it is trading around 1.0420 very close to the resistance of 1.0460, a daily close above this level would increase the probability of a new bullish move up 1.0650 level. Investors should be cautious with this pair and closely monitor the latest developments in Japan and China, Australia's largest trading partner.
The trend continuation pattern is showing that for the medium-term, we can see that the Aussie is strengthened more and maybe will reach levels of 1.0650 and 1.08.