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.
Thread: Aud/Usd
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.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
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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Sell AUDUSD at 1.0345 SL 1.0385 TP 1.0300
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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)
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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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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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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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
Last edited by ahmed fakhry; 2012-10-25 at 04:51 PM.
EUR/USD back above 1.3000
The euro has pierced the key resistance at 1.3000, boosted by improved risk appetite ahead of the opening bell in London on Thursday.
Light docket in the euro zone today, as EMU M3 Money Supply and Private Loans will be published, followed by Italian Wage Inflation and Retail Sales. Across the pond, Durable Goods Orders, the weekly report on the labor market and Pending Home Sales are also due.
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The short term trend of the pair is to the downside. Intraday trading range of the pair is expected among key support at 1.0220 and key resistance at 1.0465. Based upon my chart analysis, I prefer to buying the pair around 1.0350 with targets 1.0400, 1.0440 then 1.0510 and stoploss with four hour candle closing below 1.0285.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
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