As usual the kangaroo fodder is making life tough for the bulls. We failed to get above the 200 dma but the break of the April trendline has seen it become support today, which is one piece of encouragement.
AUD/USD daily chart 25 03 2014
0.9167 is level to take out if we bust this one, then we’ll be aiming for the 50 fib of the Sep drop at 0.9207.
With the US dollar not knowing what it wants to do with itself the aussie is just going about its merry business. I’m in two minds whether we break or fail here. What say you fellow traders?
