March Australian dollar futures a buying opportunity on more price strength.
See on the daily bar chart for March Australian dollar futures, traded at the Chicago Mercantile Exchange, that prices are in a four-week-old uptrend and prices have just recently hit a two-month high. The Aussie dollar bulls have upside technical momentum on their side. A move above resistance at Friday’s high of 1.0320 would become a fresh buying opportunity. The upside price objective would be 1.0500, or above. Technical support, for which to place a protective sell stop just below, is located at 1.0225.
