AUD/USD: Tentative Gains Signalled To Continue
3cAnalysis | Oct 28, 2014 06:59
The AUDUSD rally since October’s 4 year low at .8643 has been tentative and has attracted sellers into strength, but although gains have been limited, sentiment has continued to improve. Monday’s trading has posted modest gains, as has today in Asia, but with the market trading inside the 15th Oct range for the 9th day in a row. Signals are subsequently not strong, but there is a cautiously bullish bias, so with this in mind the outlook for Tuesday is to buy on the open and at .8795, today’s Asian low, with a stop loss at .8762, Friday’s opening trade. Targets are to .8830/34, today & last week’s high trades, .8861, the 2 week top and .8900, the 3 week high trade
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