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Forex: AUD/USD jumps above the 1.0400 to 6-week highs

FXstreet.com (San Francisco) - The Aussie breaks above the 1.0400 frontier with impetus and after rising around 85 pips from the 1.0360, reached in the Asian session, the pair has traded at 1.0445, the highest level since February 5th. Currently the pair is trading in consolidation mode around 1.0440.

With 0.55% gains from opening price, the AUD/USD is trading in a slightly bullish trend according to the FXstreet.com Forex Studies. The pair is extremely overbought and MACD, CCI and Momentum are bullish while the Stochastic is bearish.

Next resistances are at 1.0450, 1.0475 and the 1.0500. On the downside, supports are at 1.0430, 1.0400/10 and 1.0370.

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Federal Reserve Chairman Ben S. Bernanke noted that he’s “spoken to the president a bit” with regards to his future and that he feels no personal responsibility to stay at the helm until the Fed winds down its unprecedented policies to stimulate the economy.
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