In the last week or so the AUDUSD has rested on and enjoyed support from the key 0.7250 level having surged higher in the week prior through the key level. Prior to the surge it had fallen sharply back down through support at the key 0.7050 level down to a three month low below 0.70, before rallying strongly. Having resisted prices so strongly, it was no surprise that the 0.7250 level stepped in and offered support once it was broken through so strongly. If it can remain well supported by the key 0.7250 level, it may very well threaten the two year high above 0.74 set in August. Generally in the last month, the AUDUSD has spent most of its time trading between two key levels, meeting resistance at 0.7250 and being supported at 0.7050, after having fallen sharply through the 0.7250 level down to a then two month low below the key 0.7050 level in late September.