AUD/USD: Bullish Engulfing Pattern Favors Further Short-Term Strength
AUD/USD rose sharply yesterday, erasing most of its recent decline. A test of the previous high at 1.0412 is expected. Another resistance can be found at 1.0475 (28/09/2012 high). An hourly support is at 1.0325 (intraday low).
AUD/USD is moving within a medium-term horizontal range defined by the support at 1.0177 (25/07/2012 low) and the resistance at 1.0613 (09/08/2012 high).