What The 200MA Means For The Aussie
Posted: March 19, 2014 Filed under: 200 Moving Average, H&S Bottom | Tags: $FXA, AUDUSD, Aussie Dollar, Australian Dollar
The Aussie dollar AUD/USD completed a Head & Shoulders bottom by closing yesterday above 0.909. But the 200MA is currently capping its ascent for the second time, giving it some resistance importance. So a break above the 200MA at 0.91250, would provide a conservative entry. Implied target is 0.950.
Aussie ETF (FXA) traders have the pattern neckline at $91.20 and the 200MA at $91.80. Implied target of FXA is $95