AUDUSD – Order Flow Continues to Build | Mar 25th
AUDUSD – Continues to Build Upside Case
The Aussie continues to build its upside case, which we’ve been writing about for a few months now (read here and here). The upside moves are impulsive, and continue to print higher lows in the process, suggesting the order flow is more favorable to the bulls.
The overall price action context has been a series of false breaks, with the dynamic support (20ema) holding on the last few pullbacks. My read: this is due to the low volumes/volatility, so follow through has been limited, but supportive for higher prices.
I’ll look for pullbacks towards 9078 and the daily 20ema to get long on corrective pullbacks. Upside targets should we have a daily close above 9165, would be 9266 and then potentially 9425.
Check out our short provocative article Why Does This Always Happen to Me?
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