24 Mar 2015
AUD/USD: Indicators look generally positive - FXCharts
FXStreet (Bali) - Indicators in AUD/USD look generally positive, with further gains suggesting a run towards 0.7900 and then 0.7912, notes Jim Langlands, Founder at FXCharts.
Key Quotes
"The indicators look generally positive, although the 1 and 4 hour charts are becoming a little overstretched and direction today will depend on external data, beginning with the HSBC China Manufacturing PMI (exp 50.5)."
"Further gains would suggest a run towards 0.7900 and then to the 26 Feb 0.7912. Beyond here would see a bigger squeeze, with the potential to revisit the Fibo resistance at 0.8010 (61.8% of 0.8294/0.7559), although it is too early to think of it at this stage."
"The downside will find bids at last week’s spike high at 0.7846 and then at the Fibo support at 0.7827 (23.6% of 0.7559/0.7891) ahead of 0.7800. Below here currently looks a little unlikely but further bids would arrive at 0.7785 (38.2%)."
Key Quotes
"The indicators look generally positive, although the 1 and 4 hour charts are becoming a little overstretched and direction today will depend on external data, beginning with the HSBC China Manufacturing PMI (exp 50.5)."
"Further gains would suggest a run towards 0.7900 and then to the 26 Feb 0.7912. Beyond here would see a bigger squeeze, with the potential to revisit the Fibo resistance at 0.8010 (61.8% of 0.8294/0.7559), although it is too early to think of it at this stage."
"The downside will find bids at last week’s spike high at 0.7846 and then at the Fibo support at 0.7827 (23.6% of 0.7559/0.7891) ahead of 0.7800. Below here currently looks a little unlikely but further bids would arrive at 0.7785 (38.2%)."