fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: AUD/USD Daily Outlook  Mon Nov 19, 2012 10:49 am | |
| AUD/USD Daily Outlook Daily Pivots: (S1) 1.0352; (P) 1.0362; (R1) 1.0379; More... AUD/USD recovers today and with 4 hours MACD crossed above signal line, intraday bias is turned neutral first. Nonetheless, we're favoring the case that corrective rise from 1.0148 is finished at 1.0480. Hence, recovery should be limited below there and bring another decline. Below 1.0286 will bring another fall to 1.0235 minor support. Break will suggest that whole decline from 1.0624 is resuming for a new low below 1.0148. In the bigger picture, price actions from 1.1079 high are treated as a consolidation pattern in the larger up trend, in form of a triangle. Current development suggests that fall from 1.0624 is the last leg. Hence, downside of the fall from there should be contained above 0.9588 and the larger up trend is ready to resume soon. Break of 1.0624 should send AUD/USD through 1.0852 to retest 1.1079 resistance next.  | |
|
