AUD/USD GAME PLAN: BUYER ON DIPS FAVOURED, 0.9140/50 NEXT TARGET

17 mars 2014Following Monday’s price action, turning into a buyer on dips makes more sense now. On the downside, and barring any major surprise by the RBA minutes (unlikely to sound too dovish given recent statements), first buy area stands circa .9070, with two parallel upper trendline (inner/outer) potentially potentially adding confluence. Another buy area is .9040/50 (ascending trendline from March 12 low thru March 17 low) ahead of 0.8990/.90. To become sellers, the only area I am interested on would be the convergence of key levels at .9140/50.