FX.co ★ AUD/USD, Upwards Movement, December 07, 2010 (Daily Strategy)

After a correction straight towards the meaningful support level of 0.9600, the likelihood of the beginning of a new wave of upwards movement that will push the pair to new highs is stronger than ever. The improvement in investor sentiment is definitely likely to support the pair, which is expected, from a technical perspective, to move upwards, towards the 1.0450 and 1.0600 levels at the very least.

An entry into a buy position can be timed for the possibility of a light downwards correction towards the nearest 0.9780 support level,