The AUD/USD pair ended the week in a very convincing manner as the word of possible coordinated central bank intervention in reaction to any issues from the Greek elections got out. This offers the markets a bit of comfort, and as a result they are willing to take on more risk. This includes the Aussie dollar, and the pair managed to break above the recent 50% retrace. The 61.8% Fibonacci level above could offer some resistance, but it looks like the real resistance will be at the 1.05 level. With all of this in mind, we only buy the Aussie at the moment, and would do so on a break of the weekly high.
Click here a current AUD/USD Chart.
Originally posted here