fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: Technical Analysis for AUD  Fri Sep 06, 2013 9:39 am | |
|  Technical Analysis for AUD As shown on the daily chart above, the pair settled above the 50-days SMA but retreated from the main descending resistance for the consolidation phase, a break above this resistance is required now to confirm a potential bullish reversal, or at least a move towards 0.9320-0.9350 area. Overall, we consider the retreat yesterday as a mere correction, ahead of resuming the potential bullish move. Support: 0.9115, 0.9070, 0.9040, 0.9000, 0.8970 Resistance: 0.9150, 0.9170, 0.9200, 0.9230, 0.9285 Recommendation Long above 0.9100, targets at 0.9170,0.9230 and 0.9300. Invalidation below 0.9010 | |
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