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Feb 22 - 01:55 PM

AUD/USD - Dip Buyers Are Becoming Aggressive

By Christopher Romano  —  Feb 22 - 11:45 AM
  • AUD/USD rallied to 0.7908 in overnight trade before US$ buying emerged

  • The US$ buying turned the pair negative on the session & 0.7855 traded

  • AUD/USD buyers emerged though, the rally resumed & no pull backs occur

  • A 3-year high is then set after the March 2018 monthly high breaks

  • Daily, monthly RSIs imply bull momentum remains & aren't diverging

  • Dip buyers becoming aggressive, next target is Feb 2018 high (0.8067)

  • Feb's monthly bullish outside candle is a very strong signal

  • Longer-term bulls likely expect a test of the 0.8135/65 zone

  • For more click on FXBUZ


aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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