Tuesday, 31 December 2013

AUD/USD weekly chart - testing long term trend channel support, bullish momentum divergences

AUD/JPY daily chart - rallying from corrective trend channel

A couple of weeks ago when this market was around 92 I posed the question "[Is the] AUD/JPY rallying from trend channel support and 50% retracement of August to October rally?" ... looks like the answer was yes. Today the market is rallying upwards from the illustrated corrective trend channel.