Price have broken out of the consolidation and created a fresh leg to the upside. At the same time a divergence have formed, indicating that a pullback is due to come in to play shortly. A pullback in to the 81.900 hourly demand zone
lines up with the support and resistance
approach (break out trading) for going long. Looking at the order flow report from mars 3rd, the Australian Dollar
remains positive while the Japanese Yen
sits in neutral position. The COT
report is also showing increased institutional buying pressure. Summary: Pullback is for buying.