As you are probably well aware, I’m bullish and long the AUD/USD, but I expect to see some drawn-out bullish consolidation before a major move higher can commence.

The daily chart has support/resistance now at .9005 (20-day MA) and .9325, recent congestive chart highs. The 100-day MA sits at .9060 and watch out for a bullish cross of the 20-day/100-day MAs which is likely to happen early next week. This is often a trigger for medium-term systematic trading models to enter the market.

Hourly support is initially at last nighs low around .9130 (also a previous high) and below there the bullish hourly trendline around .9100. Resistance of course is at last nights .9190 high.