$AUDUSD watch areas for Thursday, Mar 3 2016

After price blew through the top of the watch red resistance areas yesterday, support was found at the green watch areas and we are in a defined up trend for now. Thursday sees resistance above at 7305, with a larger longer term resistance area starting around 7330.

Plays against the trend might want wait for the latter area, while trend followers can look for the area starting at 7260 and the new trendline for cheaper prices to jump on the trend trade.

Trade active:

Into the first of the small resistance zones here, accumulating some very small short positions. Interestingly a Wolfe Wave is forming on 1H as well, which is pointing to one of these two resistances holding through Asia.