Apr 12, 2013
Forex: AUD/USD edges higher during Asia session, 1.0553 last
FXstreet.com (Barcelona) - The Aussie Dollar is edging higher during Asia trade, up 8 pips at 1.0553. The range has been somewhat narrow with a low of 1.0539 and high of 1.0556. There are no economic indicators to report out of Australia during the session. From a shorter term technical perspective (30min chart), it looks like the pair is breaking out of a short term bull flag formation (confirmed by a 30min close above 1.0550). The pattern has a short term measured move target of 1.0600.