The pair AUD/USD was trading within an uptrend since the beginning of June. Australian currency rose from 0.8081 climbing above 0.9300. Technical analysts at Mizuho Corporate Bank believe that Aussie is likely to reach this year’s maximum at 0.9400.

According to the specialists, if Australian dollar closes the day, week, month or quarter above 0.9400 during the next 12 working days, it may strengthen to 2009 maximum or even 2008 high at 0.9850.

If the week is closed below 0.9850, bullish prospects for the pair may be erased, while below 0.8600 the forecast should be reviewed.



Chart. Daily AUD/USD

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