(1,0477) The AUSSIE confirmed last night a strong closing above Friday’s top when the pair formed a positive day reversal. However, only a daily closing above 1,0530 will confirm higher levels suggesting a retest of the 1,06 area!! The indicators of the daily chart are still positive but are forming a potential double top!! The indicators of the s/t charts are mixed at the moment suggesting further consolidation. The move up since the start of the year formed bearish divergences in the hourly chart suggesting a positive tone. Possible declines are therefore corrective; we suggest however buying the AUSSIE only close to the 200 hours line, now found at 1,0435 putting a stop below 1,0395!!
Click here to read the full report: AUDUSD 01.08
Future Trend Research