Bullish price action on AUD/USD, a daily chart of which is shown, continues to follow a well-defined uptrend support line extending from the early February low. In the process, price has just reached a new 8-week high. This strong medium-term uptrend places the key 0.9325 area resistance in clear and immediate focus.

In the event of continued bullish momentum, right above the 0.9325 price region resides further major resistance in the 0.9400 region, which represents the 15-month high hit in mid-November 2009.

In the opposite event that price corrects substantially and breaks the current uptrend support line significantly to the downside, a key longer-term support target resides in the 0.8800 price region.

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