Increased Appetite for Risk Sets Up AUD USD for Test of .7928

Increased trader appetite for more risky assets helped get the AUD USDback on track to test a major 50% retracement price at .7928.

Increased trader appetite for more risky assets helped get the AUD USD back on track to test a major 50% retracement price at .7928.

Depending on how the momentum is following a test of this level, a test of this level may either trigger a technical bounce down or launch an acceleration to the next resistance level at .8382.

Expectations of a global economic recovery are helping to encourage the buying of higher yielding assets.

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James A. Hyerczyk has been actively involved in the futures markets since 1982. He has worked in various capacities within the futures industry from technical analyst to commodity trading advisor. Using W. D. Gann Theory as his core methodology, Mr. Hyerczyk incorporates combinations of pattern, price and time to develop his daily, weekly and monthly analysis. His firm, J.A.H. Research and Trading publishes The Forex Pattern Price Time Report... More

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