AUD/USD: Path of least resistance would seem to be ‘up’

There are now two strong support levels below the market, .8875 and .8965, and now that the market has closed above .9000 it would seem that more gains are likely. The CPI figures due out tomorrow are the next major risk event but in the meantime I expect the AUD/USD to consolidate its gains in a broad .8960/.9130 range.