AUDUSD on the Move?
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.
(Click below gray box to show chart, if not already visible.)
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.
More about Volatility Illuminated and Macro to Micro Volatility Trading
http://www.fxstreet.com/education/forex-books/book.aspx?id=d1086089-a703-42e9-823c-677008d577a1
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