Good day traders!

Lets look at the chart below.

Aussie Dollar Pair

Aussie Dollar Gap

At the opening this week, the Aussie gaped up about 30pips. From my experience looking at the currency markets, I noticed that gaps usually get filled. I am monitoring the AUD/USD to see whether this gap gets filled as most others do.

Its interesting to note also that he AUD/USD have broken a resistance level at 0.9192 and did a correction that did not go back to that point and proceeded to bounce higher. This indicates how strong the bulls are at the moment and there is a chance that long Aussie traders might just push the price to major resistance level at 0.9390.

Good luck on your trading!

~ Ardy

Singapore Forex Blog