Setting up the AUD/USD intraday uptrend
The 15-minute AUD/USD has been trending higher despite a recent exhaustion just above 0.9180. This pullback is setting up a possible swing buy from either the top line of the 34EMA Wave but could extend lower to the uptrend line support of the Channel Up pattern.
This would create a swing buy zone between 0.9156 and 0.9148.
One issue to consider before taking a longer-term bullish view (as opposed to the shorter term 15-minute) is that the daily time frame has reached the initial layer of resistance within the sideways distribution that it is currently trading within just below 0.9200.
Related Posts:
- USD/CHF: Following Up on Selling into the Ceiling 13:23 24 August 2010
- Dissecting the USD/JPY Daily Swing Set Up 13:01 11 January 2010
- The EUR/USD's tough climb ahead 19:19 18 August 2010
- How I'm managing the risk of getting long at the USD/CAD floor 13:46 12 October 2010
- All eyes on the Dow and Dollar...but watch the EUR/USD 14:31 01 October 2009
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Forex Blog: Chartology


Thanks! You couldn't made a better call!