Sunday, 25 March 2012

AudUsd

Overall Bearish although expect a bounce this week.


Daily - 
Failure to close below the Daily 200 Sma gives the Aussie a reprieve from a larger fall.
At this point favour a retracement back to the 50% Fib at 1.0596 after completing at the 200.0 Fib extension.
Immediately resistance is located at 23.6 Fib - 1.04586, 75 Ema - 1.0505, 38.5 Fib - 1.0535.
A failure at 1.0543 - 50 Line would indicate another attempt lower to uptrend support at 1.0300.
















4 Hourly  -
Favour further upside retracement after completing a Bullish Butterfly formation toward the 75 Ema at 1.0543.  Support immediately at 1.0422.


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