March Australian Dollar Futures a Buying Opportunity on More Price Strength
See on the daily bar chart for the March Aussie dollar futures that prices are in a fledgling uptrend, have just hit a five-week high and have seen a bullish upside “breakout” from a sideways trading range at lower price levels. The bulls have gained good upside technical momentum recently. A move above chart resistance at this week’s high of .8815 would become a buying opportunity. The upside price objective would be .9100, or above. Technical support, for which to place a protective sell stop just below, is located at .8700.
