Aussie bulls might be in for a little upside help, with the pair now trading solidly above the daily 1st Standard Deviation (Containment Zone.) Moreover, with WAVE-PM showing expansion, while short-term volatility appears as the subset is attempting to move higher, carry trade bulls are likely eying the 1.05550 area on the upside. A pullback to the daily Containment Zone will test whether buyers are for real, but as of now, momentum looks to be on the upside.
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Mark Whistler is the author of eight books. Long awaited Volatility Illuminated Two (with co-author Steven Tsai) is expected on shelves before early summer 2011.
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