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The AUD/USD pair rose during the session on Wednesday as the Australian dollar bounced from the 1.0250 handle. However, we have been bouncing around so much lately that it is hard to tell exactly what the market wants to do. We think the 1.04 level will be crucial in order to get the buyers back on board, and until we can clear that shooting star from a few sessions ago, we are very leery of going long.
With all of the headline risks out there and the markets selling off in general, we don’t feel comfortable buying the Australian dollar until the aforementioned conditions are met. In the meantime, we will be waiting to see if that happens, or if we form some type of bearish pattern on a tighter timeframe
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The bias is bullish in short term testing 1.0365 area - 1.0400, a break above that area could trigger further bullish pressure towards the key resistance at 1.0435 area for this pair.
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We'll continue to stay neutral in AUD/USD for the moment. On the downside, below 1.0235 will turn bias to the downside for 1.0148. Break will confirm resumption of fall from 1.0624 and will target 61.8% retracement of 0.9588 to 1.0624 at 0.9984 and below. On the upside, though, above 1.0410 will turn bias back to the upside for 1.0624 resistance instead
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Post an improving U.S. fundamental data, AUDUSD movement at 1-hour chart fails to pass the level 1.0400nya so now in depressed condition. When you broke through the 76% Fibo at 1.0338 then the movement of the Australian dollar is still continuing depressed to 38% Fibo level at 1.0297
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After move up and touch monthly pivot level (1.0389) yesterday, AUD/USD down back to opening level. Price not able to rise. this condition also shown by stochastiic signal in tf h4 that in overbought area. Now price move around daily pivot level (1.0358)
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Sell AUDUSD at 1.0345 SL 1.0385 TP 1.0300
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Aud/usd technical analysis for 26.10.2012 by using : Auto pivot indicator.
resistance 3:1.0455
resistance 2:1.0427
resistance 1:1.0387
pivot point :1.0359
support 1:1.0319
support 2:1.0291
support 3:1.0251
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Forexpros - The Australian Dollar was higher against the U.S. Dollar on Friday.
AUD/USD was trading at 1.0354, up 0.07% at time of writing.
The pair was likely to find support at 1.0236, Tuesday’s low, and resistance at 1.0397, Thursday’s high.
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After the Reserve Bank of New Zealand decided to keep the base interest rate unchanged at 2.5%, the New Zealand dollar grew against its competitors. The new president of the Reserve Bank, Mr. Grime Wheeler noted in his statement that “the global economy is still weak and although the market outlook earlier this year has already begun to improve, the future of the world economy is still not optimistic”.
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AUD/USD still look bearish. The price now on try to break down to that pivot at 1.0323. Better idea to search for Sell OP here if price then can break that pivot 1.0323. On other situation, just wait and see if price still move above 1.0323. it's still sideways, of course.
