fxpulsation
Posts : 8759 Join date : 2012-01-25
| Subject: AUD/USD Daily Outlook Tue Apr 16, 2013 10:10 am | |
| AUD/USD Daily Outlook Daily Pivots: (S1) 1.0226; (P) 1.0375; (R1) 1.0459; More... AUD/USD dropped sharply to as low as 1.0290 so far today and the break of 1.0347 cluster support (50% retracement of 1.0115 to 1.0581 at 1.0348) suggests that whole rebound from 1.0115 is over. Intraday bias stays on the downside and deeper decline could now be seen back to retest 1.0115. On the upside, though, above 1.0423 will turn focus back to 1.0581 resistance instead. 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. There is no clear sign of breakout yet. But in case of another fall, downside should be contained above 0.9588. Meanwhile, break of 1.0624 will be an early sign of up trend resumption and should bring retest of 1.1079 high next. | |
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