AUD/USD analysis (July 02nd 2011)

The pair has ended an almost 50% retracement of its rally starting in March with a bounce on top of the 1,04 area.
A clear break above previous high at 1,0775 would expose a test of all time high at 1,10 over the coming sessions.


AUD/USD: daily chart

Only a break back below 1,05 would negate this bullish resumption.