Australian Dollar is trading on a strong pace on Tuesday, buoyed by a rebound on risk appetite with the pair's rebound from 1.0385 on early Asian session, breaching 1.0475/80 resistance area, to reach 3-day highs at 1.0520.
Thread: Aud/Usd
Australian Dollar is trading on a strong pace on Tuesday, buoyed by a rebound on risk appetite with the pair's rebound from 1.0385 on early Asian session, breaching 1.0475/80 resistance area, to reach 3-day highs at 1.0520.
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The decline in AUD/USD last week and break of 1.0330 minor support suggests that the choppy recovery from 1.0148 has completed at 1.0480 already. Initial bias remains on the downside this week for 1.0235 support first. Break will indicate that fall from 1.0624 is resuming for a new low below 1.0148. After all, note again that rise from 1.0148 is viewed as a correction. So, even in case of another rebound, we'd expect downside to be limited below 1.0624 eventually.
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The trend on still look bulls. On my see if the 23.6 fib at 1.0347 can be break by buyer on next price move . this will be nice to be search buy . note : Look to the nice bulls candle pinbar on 4H TF . this truly can be trigger for more Bulls, I see
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Scenario for next week
Elliott: flat correction down 1.0276
It looks more likely that it would rise to 1.0439 - 1.0534 from 1.0316 or 1.0268. After which a downside move is expected.
Technical points
Key point 1.0339
Entry point 1.0394
Elliott 1.0481
Closing 1.0344
Projection 1.0276
Trendline 1.0459
Trendline 1.0437
Supports / Resistances
Res 2 1.0534
Ex-High 1.0459
Res 1 1.0439
Pivot 1.0363
Sup 1 1.0268
Ex-Low 1.0287
Sup 2 1.0192
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aud/usd technical analysis by using : average directional movement index
adx : 24.2737
+di : 16.1071
-di : 32.3429
timeframe : 1 hour
time : 1800
date : 16.11.2012
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AUDUSD bearish pressure is still quite strong. Low penetration of 1.0306 and 1.0300 psychological level will take the pair further fall towards the level around 1.0264.
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By AUD looking south as the daily chart pair could overcome sineyu Sliding (the first flag of the trend), the hourly and 4 hour chart moving alligator show signal 3 signal lines continue to fall, I plan to make another sale when break through 0300 figure.
The pair continues to trade near the 0300 figure, while the sales are not out of the question, you just need to wait for the breakdown of the mark, is also worth mentioning that on the daily chart around it is moving and 200, so I will not cast, and the northern alternative exit to 0370.
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Expected trading range for today is between: Support 1.0150 and resistance 1.0410
General tendency is expected for the day: Down
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Elliott: extension wave down 1.0275
Current fall is near an end of wave around 1.0297 zone, a rally should then procede to above 1.0377. Fall below 1.0263 would cancel this scenario.
Warning: Imminent end of bearish move
Technical points
Key point 1.0317
Entry point 1.0325
Elliott 1.0459
Closing 1.0332
Projection 1.0298
Trendline 1.0387
Trendline 1.0315
Supports / Resistances
Res 2 1.0421
Ex-High 1.0387
Res 1 1.0377
Pivot 1.0342
Sup 1 1.0297
Ex-Low 1.0307
Sup 2 1.0263
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