Aud/usd

Hi there

R: 0.7800 / 0.7820
S: 0.7765-60 / 0.7740
The Aussie has had a sharp corrective 0.7770-65, as we’d feared it might. It has important Support at 0.7760, which comes on the trendline on the 4-Hourly joining the Lows of 0.7699 (31-Jan) and 0.7747 (05-Feb). Note that the statistically projected Max Low for the day is at 0.7765. These Supports are expected to hold, and push the Aussie back up towards 0.7800, the immediate Resistance. However if broken, there could be a fall towards 0.7740.


Good luck

We have a double-high low-close forming on the daily. It's a good set up for a short on Monday.

been short since .7810. aussie has farther to fall.

Hi there

R: 0.7760-70 / 0.7782
S: 0.7721 / 0.7700
The Aussie tried to rally during the day and hit a high of 0.7763 but then it again succumbed to the selling pressure indicating that the sellers are now making their presence felt on rallies. The pair looks to be headed towards 0.7700 on the downside during the week. If that is broken then there could be a fall towards 0.7670-50 during the week, which is coming in on the trendline on the weekly, joining the lows of 0.7014 (Mar-06) and 0.7415 (13-Oct).
Intraday the important Supports for the pair are at 0.7721 and then at 0.7700. The former is the statistically projected Max Low for the day. On the upside the Resistance is at 0.7760-70. The statistically projected Max High on the daily is at 0.7782. In the morning we had recommended selling on rallies. Now those in the trade could bring their Stop to breakeven.


good luck