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28 Mar 2014
AUD/USD uptrend firmly in place
FXStreet (Guatemala) - Ivan Delgado, Head of Asian Editors at FXStreet explained in an article that the AUD/USD rally went on this Thursday, breaking through the 0.9250 barrier, tripping stops above, only to stabilize near new multi-month highs.
Key Quotes:
“The market continues to develop in a non-volatile fashion”
“Buyers remain well in control, with retracements expected to be quite shallow in nature before buyers step in again”.
“The next confluent area that longs will see as 'value area' should be around 0.9240”
“More protection is seen circa 0.9215/20 (intraday lows March 27 + top of the hourly cloud). Should we see a deeper pullback, 0.9190/0.92 comes into focus”.
“On the upside, the void area has now been used up, and further progress may be tougher to achieve as price now faces an important static resistance block between 0.9280-0.93, where a cluster of offers should be expected ahead of 0.9330, which represents the 61.8% fib retrac from the Oct-Jan decline)”.
“Overall, the uptrend remains firmly in place”
“A period of order distribution (consolidation) should not be ruled out”.
Key Quotes:
“The market continues to develop in a non-volatile fashion”
“Buyers remain well in control, with retracements expected to be quite shallow in nature before buyers step in again”.
“The next confluent area that longs will see as 'value area' should be around 0.9240”
“More protection is seen circa 0.9215/20 (intraday lows March 27 + top of the hourly cloud). Should we see a deeper pullback, 0.9190/0.92 comes into focus”.
“On the upside, the void area has now been used up, and further progress may be tougher to achieve as price now faces an important static resistance block between 0.9280-0.93, where a cluster of offers should be expected ahead of 0.9330, which represents the 61.8% fib retrac from the Oct-Jan decline)”.
“Overall, the uptrend remains firmly in place”
“A period of order distribution (consolidation) should not be ruled out”.