AUD/USD's Up-Trend Struggles Higher
Forex4you | Jul 14, 2014 08:17AM ET
The AUD/USD's medium-term up-trend is still intact, if a little weak. The very short-term trend is also still probably bullish, despite the strong move down at the start of the month. More upside is probable, therefore, although such was the strength of the move down that I'm only cautiously bullish.
Nevertheless the dominant short-term trend is 'up', so we should expect higher prices to come. In view of this a break above the 0.9407 highs could confirm a move higher - first to 0.9456 and then to the level of the R1 monthly pivot at 0.9506, afterwards.
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