Possible further gains for the Aussie Dollar in the short term

After the strengthening of the Aussie Dollar today, on the back of the fall in 10-year bonds and iron-ore prices rising more than 2% to its highest in three weeks, Saxo Capital Market’s traders expect now further upside for the Australian currency. Despite the fresh low of 0.7257 that the AUDUSD made yesterday, the Aussie Dollar rallied afterwards to break above 0.7300. According to Saxo’s traders, this bounce happened after the AUDUSD touched the bottom support line of a descending wedge. Further up, and once the level of 0.7350 is broken, Saxo expects further gains in the short term. To read more and know the new resistance levels for the Aussie Dollar visit: (VIEW LINK)