{"id":58512,"date":"2011-07-26T10:26:32","date_gmt":"2011-07-26T00:26:32","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2011\/07\/26\/techwizard-prepares-for-audusd-rally\/"},"modified":"2011-07-26T10:26:32","modified_gmt":"2011-07-26T00:26:32","slug":"techwizard-prepares-for-audusd-rally","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2011\/07\/26\/techwizard-prepares-for-audusd-rally\/","title":{"rendered":"TechWizard Prepares For AUD\/USD Rally"},"content":{"rendered":"<p>\n\tThe <span>TechWizard<\/span> reports he is watching AUD\/USD closely as he believes the cross carries a clear upside bias.<\/p>\n<p>\n\tThe fact AUD\/USD has consolidated above parity since peaking above 1.10 earlier this year is seen as a clear positive. All the bulls now want to see is a weekly close above 1.10, reports the Wizard. Once this achievement is in place he predicts it&#039;ll be off to the races again for the Aussie dollar. The Wizard sees a potential run extending to 1.15, if not 1.18.<\/p>\n<p>\n\tHowever, he also warns the first condition -closing above 1.10 on weekly closing basis- hasn&#039;t been met as yet, so traders should refrain from getting overly excited just yet.<\/p>\n<p>\n\t<img decoding=\"async\" alt=\"\" src=\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/Wizard_AUD-USD(1).jpg\" style=\"width: 670px;height: 394px\" \/><\/p>\n<p>\n\tGiven the subsequent sell-off for Australian equities when AUD\/USD hit 1.10 earlier in the year, investors should be prepared for a similar reaction if and when AUD\/USD goes for a big run upwards, warns the Wizard.<\/p>\n<p>\n\tHe notes his positive view is supported by a rising <span>20M<\/span>\/A and a bullish <span>MACD<\/span>. All in all, the Wizard&#039;s view leans towards a pending break-out to the upside for AUD\/USD.<\/p>\n<p>\n\tThe <span>TechWizard<\/span> is the pseudonym of Scott Morrison, whose experience in financial markets exceeds twenty years. Morrison operates his own website nowadays at <span>www.techwizard.com.au<\/span>. All views expressed are the <span>TechWizard&#039;s<\/span>, not <span>FNArena&#039;s<\/span> (see our disclaimer).<\/p>\n<p>\n\t<strong>Technical limitations<\/strong><\/p>\n<p>\n\t<strong><span style=\"font-style: italic\">If you are reading this story through a third party distribution channel and you cannot see charts included<\/span>, we <span><span>apologis<em>e<\/em><\/span><\/span><em>, but technical limitations are to blame.<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The TechWizard reports technical indicators are pointing towards another rally for AUD\/USD.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[29],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/58512"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=58512"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/58512\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=58512"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=58512"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=58512"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}