What is particularly about this market is its adamant tendency to climb higher, even after the bull . Price keeps following the up slope within the up fork and is still above the major low in terms of slope. It hasn't reached 100% size projection of that big Sep-Oct 2013 swing up.
On the other hand, the upthrust above the price level of the last major swing high looks like a fakeout - price reached the 0.764 retracement level and vehemently turned back down. traders would notice a . Market has reached the upper border of the big channel it has been trading within since Aug 2013.
And overall price action seems to be pretty much rangebound. And it's no wonder why - the of both AUD and the USD has been somewhat neutral, somewhat weak.
What's next? We can expect some price action, esp . as long as we're above the support of 0.932 level. If resistance at 0.946 holds, a swing down will probably begin. Otherwise, another breakout may be this time successful and we'll see it test the Oct swing high at 0.975.
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