The Australian Dollar advanced as expected against its US counterpart after prices showed a Hammer candlestick at rising trend line support set from late January, but follow-through has been relatively limited. Continuation requires a daily close above resistance at 0.9035, the 23.6% Fibonacci expansion. This would expose the 0.9085-0.9104 area, marked by the 38.2% Fib and the January 13 high. Trend line support is now at 0.8976, with a shallower upward-sloping barrier seen at 0.8930 thereafter. Prices are too close to relevant resistance to justify a long position from a risk/reward perspective. On the other hand, a ... (full story)