AUD / USD Short-Term Risk Down Sides Still Intact
From a technical standpoint, the down side risk in the short term AUD / USD will remain intact. In a research note published late last month, the bank thinks that the failure of the peak near 1.06 worsen the prospects for the couple, noting that the main areas that still support this pair is 1.0150 zone / 00.
Penetration will confirm the occurrence of a corrective phase with the potential to expand initially to the 1.00 /, 9980 (61.8% retracement from the lows June 12), if not critical zone, 9830 /, 9790, near 76.4% retracement and triangle trend line from the lows in October 2011 cycle. Back to top penetration resistance 1.0375 / 1.0460 is now needed to confirm a shift back to 1.06 / highest range 1.0625 medium term. Until then, under the short-term risks will remain intact. "


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