The (AUDUSD) is edging higher going into today’s European morning, breaking upchannel resistance (on the 4hr chart). Significantly, last week’s brief surge above downchannel resistance (on the weekly chart) strengthens the uptrend since February.  With the higher March high versus the February high, and the near complete weekly Hammer showing an unwillingness for the AUDUSD to dip back to downchannel support (on the weekly chart), a higher March low versus the February low is all but assured. The weekly, daily and 4hr RSI, Stochastics and MACD are bottomish, rallying or consolidating recent gains.  I am looking to go long in the green zone (of the daily chart), targeting the red zone for Wednesday.  The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I sometimes set my stops tighter).  Click here for analysis on WTI CRUDE, VIX

AUDUSD Weekly/Daily/4hr

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(FXA)