AUD,NZD/FXWW News/Technical Analysis

AUD/USD: Hourly chart looks more constructive amid fresh highs

I think its safe to say that momentum is still relatively weak (see chart) but I expect that to change if/when .9250 is broken. An hourly trendline is forming near .9150 and this should provide support. and we should get a test of .9250 later tonight. The hourly chart continues to make new highs in a constructive fashion, and the fact that it’s doing this while the economic news has been quite bad, tells me a lot about market positioning.

(Edit: Heavy turnover above .9200 shows still plenty of selling interest. I have a trailing stop on my .9050 purchases now at .9120).

  1. more like range trading from my perspective, 0.90~0.93, Aussie cross such as A/J and A/Chf give $A bid while policy expectation and more bad China data to come give it pressure

  2. My daily shows it turned up from mid channel … and is now probing the channel topside resis at 0.9220-25.

    We saw a big S/L run on EURAUD and would assume it was same for AUDUSD round .9205 … the longer it stalls here, the more bears will appear .

    I think AUD will be lower tomorrow morning, but it is starting to look constructive

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