Technical Analysis: AUD/USD 2012.03.01

March 01, 2012 10:59

The pair broke the 1.0840 resistance, but then dropped below 1.0800. Now we look for additional setbacks towards the 1.0600 support, with a break below to confirm corrective declines ahead of the 200-Day SMA by 1.0400. Only breaking and consolidating above 1.0800 and then breaching the 1.0870 resistance would conform the upside rally towards the 1.1080 high. Edward Smith, technical analyst of company Admiral Markets. At any use of the analytical material taken from a site of company Admiral Markets, and the secondary publication on any other resources, the rights to intellectual property for a dealing centre «Admiral Markets», the reference to a company site is obligatory.

Admirals An all-in-one solution for spending, investing, and managing your money

More than a broker, Admirals is a financial hub, offering a wide range of financial products and services. We make it possible to approach personal finance through an all-in-one solution for investing, spending, and managing money.