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).