Forex: AUD/USD rises 1.10%, testing 0.7200 level

FXstreet.com (Barcelona) - AUD has risen around 85 pips against the USD from 0.7115, in the Early European morning, to reach today's high at 0.7200. currently, AUD/USD is trading around 0.7190/0.7200 after rising 1.10% so far today from 0.7121 opening price.Yesterday the pair rose 0.85% from opening price at 0.7063, reaching 0.7156 as maximum and 0.7030 as minimum, to close the day at 0.7122.The Varengold Bank Research Team says: "The AUD/USD has been trading in a bearish trend phase and fell below its psychological important 0.7000 level. Though the currency pair recovered and rose near to its resistance line at 0.7188 and crossed simultaneous its old bearish trend-line. The MACD Indicator assists a test to climb over its resistance, which could be a further sign for an ongoing bullish trend."