There has not been much change in market sentiment this week which continues to see weak US dollar movements throughout the week.
Other major currencies such as the commodity currencies of the New Zealand dollar and the Australian dollar continued to make room for strengthening in the market despite the slowdown in the value of the currency.
The Australian dollar showed a strengthening against the US dollar today (Friday) to close this week's trading high at its latest high after flat on trading yesterday.
If we look at the AUD / USD pair price chart earlier this week, the price that has managed to break the resistance level of 0.73300 has moved higher but flat below the high level of 0.73700 which is the latest resistance.
Even so, the price remains moving above the Moving Average 50 (MA50) support level on the 1 hour movement of the price which has not yet given a signal of a price decline.
Then it can be seen on trading in the Asian session today, the price has managed to overcome the resistance of 0.73700 and continue to rise higher on the trade connected to the European session.
The next rise is seen towards the 0.74000 resistance zone which was tested in early September before the price dropped again.
However, beware if there is a decline in price again, it may be a factor in changing market sentiment or profit-taking activities by investors.
The decline will re-test the RBS zone (resistance become support) 0.73300 before a lower decline will lead to around 0.73000.
