Pivot lines can be applied well on the sideways markets, as the prices will probably be located between R1 and S1 lines.
Thread: Aud/Usd
Pivot lines can be applied well on the sideways markets, as the prices will probably be located between R1 and S1 lines.
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As a trend determining indicator, TVI (12,12,5) shown up strong for AUD/USD this confirmed that price rise up strong. Price success to break daily pivot level (1.0279) and now, price still trying to break up weekly pivot level (1.0314), if it can break this level, it may rise up again until touch 1.0382.
AUDUSD had touched and had been rejected by the support level at 1.0252. I think AUDUSD has a potential to reverse now and rise to the resistance level at 1.0337. But if fail and AUDUSD can break the yesterday's low, I think AUDUSD will continue falling to the next support level at 1.0163.
Spoiler:
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Elliott: flat correction down 1.0202
It looks set to visit further lower territory down to around 1.0251 - 1.0221. Its corrective attempts should fail ahead of 1.0302 - 1.0324. Stop loss above 1.0382 zone.
Warning: Imminent end of bearish move
Technical points
Key point 1.0243
Entry point 1.0290
Elliott 1.0411
Closing 1.0265
Projection 1.0202
Trendline 1.0315
Trendline 1.0338
Supports / Resistances
Res 2 1.0382
Ex-High 1.0339
Res 1 1.0324
Pivot 1.0280
Sup 1 1.0221
Ex-Low 1.0236
Sup 2 1.0178
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But all the same pair broke the support level of 1.0300 so far north postponed indefinitely ... the market on the basis of currency pairs today went in favor of the U.S. dollar, so judging by the 4 hour chart now target 1.0200 ..
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aud/usd technical analysis by using : average directional movement index
adx : 42.4738
+di : 16.1043
-di : 23.9511
timeframe : 1 hour
time : 2000
date : 23.10.2012
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The fall of the pair could not even save the sloping level, flashed its course without much effort that opened the potential to further reduce the main purpose of bears think will be the level (+ figure of 0200), and next to it you can think about buying, but so far only in the south.
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The trading range for today is among the key support at 1.0220 and the key resistance at 1.0465.
The short term trend is to the downside steady daily closing below the levels of 1.0710, with targets at 0.9400.
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Aud Usd,Next support zone area is 1.01780 zone, need to see price action on that area.
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AUDUSD fell from 1.0410 to 1.0295 level. However, minor downtrend is treated as consolidation of uptrend from 1.0149, another rise towards 1.0500 is still possible after consolidation, and a break above 1.0410, i think that could signal resumption of uptrend again.
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