A new test of the AUD/USD resistance at 1.0497 is likely
AUD/USD has broken its support at 1.0421. However, the subsequent bounce suggests a still strong buying interest. Monitor the hourly resistance at 1.0497 (26/03/2013 high). Hourly supports can be found at 1.0441 (intraday low) and 1.0386 (01/04/2013 low). • In the medium-term, AUD/USD is moving within the horizontal range defined by the support at 1.0149 (08/10/2012 low) and the resistance at 1.0613 (09/08/2012 high). The recent technical improvements favour a test of the top of this range.
- Posted: Apr 3, 2013 7:56am
- Submitted by:Category: Technical AnalysisViews: 721Comments: 3