27 Mar 2014
AUD/USD in firm uptrend – FXStreet
FXStreet (Guatemala) - Ivan Delgado, Head of Asian Editors at FXStreet noted that ever since making a low for the week post Monday's HSBC China PMI miss, the AUD/USD has been a one-way street trade.
Key Quotes:
“Buyers have consistently stepped in at the kijun line, currently at 0.92, an area of important confluence should price pullback”.
“An actual retreat towards 0.92 is in the cards”.
“Only a break below 0.9185 (March 26 intraday swing low) could cause a slightly deeper setback towards 0.9150/60, area where the top of the ichimoku cloud crosses”.
“The AUD/USD is currently in a firm uptrend and there is still room to 'exploit a void area' up until 0.9280, which implies chances for price to resume its underlying bias are fairly high; pullbacks are expected to be shallow as buyers do not want to miss the trade”.
“The next projected target to the upside is seen at 0.9280 (Sept/Nov 2013 lows) ahead of 0.9330 (61.8% fib retrac Nov-Jan decline)”.
Key Quotes:
“Buyers have consistently stepped in at the kijun line, currently at 0.92, an area of important confluence should price pullback”.
“An actual retreat towards 0.92 is in the cards”.
“Only a break below 0.9185 (March 26 intraday swing low) could cause a slightly deeper setback towards 0.9150/60, area where the top of the ichimoku cloud crosses”.
“The AUD/USD is currently in a firm uptrend and there is still room to 'exploit a void area' up until 0.9280, which implies chances for price to resume its underlying bias are fairly high; pullbacks are expected to be shallow as buyers do not want to miss the trade”.
“The next projected target to the upside is seen at 0.9280 (Sept/Nov 2013 lows) ahead of 0.9330 (61.8% fib retrac Nov-Jan decline)”.