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aussie sure know a thing or two about going down under! aud/usd slipped to its yearly low as risk aversion dominated yesterday's trading. After opening at 0.9817, the pair dipped 10 pips below the 0.9700 major psychological level and closed at 0.9770. Will it continue to break lower today?
Attachment 1190AUDUSD has formed a inverse head and shoulder in the m15 time frame ,despite the trend in h1 ,h4 and daily time frames is bearish but this can be a sign of temporary recovering by the ausi,resistances above could be 0.9782 (38.2% retraccement ),0.9794, and 0.9811(50% retracement of last small wave).
Aussie is pushing strongly to the upside, however 0.9800-0.9820 area should limit the current correction, otherwise further bullish momentum could be seen towards 0.9880. RSI is attempting to gain bullish momentum but remains within the negative territory, thus we still expect the bearish bias to resume.
http://i45.tinypic.com/33w347a.gif
Recommendation : Based on the charts and explanations above, we recommend selling the pair around 0.9810 targeting 0.9725 and 0.9685. Stop loss above 0.9885
Need to watch out for the weekly closing below the 0.9733 area, where closing at 0.9666 area is projected to shift to weekly Aussie moving target.
0.96 It is a crucial area where the break is next week expected to widen its area of 0.94.
Correction in next week's expected to happen towards the close of this month, when there are daily closing at 0.9888 area is projected to Aussie correction to the 1.0000 area.
Resisten : 0.9804, 0.9856
Support : 0.9634, 0.9583
Range : 0.9606 - 0.9808
We can see that in H1 chart of the pair, the price is in downtrend because it is below the Ichimoku Kumo Cloud and EMA 200. Moreover, it is at the Kumo Cloud. So, I think the price will be down now.
http://s17.postimage.org/7vl0htrcv/image.jpg
Audusd breking up dayly pivot level (0.9762) just now. since american session yesterday,it successed going up after in previous session price going down. and in chart tf m15 had formed double bottom pattern that indicates price can go up more.
I have a vision, that this pair will break the support level at 0.9715 and may continue further to reach the lower level. Well, bear is still on the mood today. The next level of target price is 0.9700 and 0.9680.
Aussie assumption will move towards the low in November 2011 (0.9662) and October (0.9387) to its own concern for the market, particularly how to address the indication of the RBA rate cut next month.
Resisten : 0.9813, 0.9861
Support : 0.9713, 0.9666
Range : 0.9626 - 0.9808
The pair tested 0.9800 to back off slightly, while RSI finds resistance near 50.00 level, the bearishness remains favored, so long as 0.9815 remains intact, thus our morning expectations remain valid for the rest of the day.
http://i50.tinypic.com/f546a.gif
Recommendation : Based on the charts and explanations above, we recommend selling the pair around 0.9815 targeting 0.9740 and 0.9700. Stop loss above 0.9885
my weekly analysis :
the support 0.9688 as we see in the chart that it changes the direction of the price 2 times before so if the price succeeded to pass that support that means the way is open now to visit the previous annual low at 0.9400 and if it fail to pass it so buy order shall be given .
Attachment 1201
note that the pair didn't make any correction wave since the begin of the month
Spoiler: