Bullish Aussie

The Aussie continues it's uptrend yesterday. On further analysis we can see from the chart below there could be some obstacles ahead.

We have the MOB, time line, two leged extension and also the figure in proximity. All these factors should be considered before entering a long position on this. If we have a breakout then this would become more appealing.

Watch the fib reversal area and see if the market breaks or reverses in that zone.


Chart courtesy of Advanced Get. Data provided by ESignal.


Forex Analysts
Anne Chapman & Javid Shaik