FXstreet.com (Barcelona) - Australian Dollar rebound at 0.8915 low on November 3, has extended on Monday's Asian session to levels above 0.9200 and the pair is consolidating at the moment at levels between 0.9235 and 0,9270 during European session.
The Aussie looks bullish, according to Ian Coleman, technical analyst at Turtle Futures, on its way to 0.9287 area where resistance should be expected: We have met the target for an ABC correction at 0.9255 and are still pushing higher. 161.8% extension would take us to 0.9287 where we should expect some resistance.
Furthermore, Coleman expects a corrective decline at 0.9287 before pulling further up: I would look to 92.87 as a possible turn around. The power of the next move down will be relevant. If we look corrective then we may be getting ready for a new high. Impulsive and we could see the trend line break.