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Jan 08 - 01:55 PM

AUD/USD - Longs Are Comfortable With Consolidation

By Christopher Romano  —  Jan 08 - 12:27 PM
  • AUD/USD rebounds from support near 0.7725, holds near recent trend high

  • Daily, monthly RSI are rising and imply bullish momentum remains

  • Another consolidation phase (0.7725/0.7820 range) is taking hold

  • Consolidation is a healthy development for the longer-term rally

  • Phase is likely to resolve & result will be an eventual new trend high

  • AUD/USD longs can take comfort in the signals that are currently in place

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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