The Aussie has gained almost 140 pips on the US dollar over the course of today's Asian and early European sessions to recover from yesterday's four-week low at 0.8909 and edge above yesterday's high, setting the daily max at 0.9047
Rajoo C, analyst of Precise Trader, urges caution with the bears as the bulls [will] be in control soon during a choppy session.
The Hourly Trend has been in a Range Trading and expect a Choppy session until the break, 9000-45 are the critical levels to watch to maintain the bearish outlook, he says. On the 5 min is along the gradual Down Channel and the price patterns are suggesting it may bottom soon, a Cautious approach is needed for the Bears. The Opening price principle suggests no clear direction but expect the Bulls to be in Control soon.