Technical Analysis: AUD/USD 2012.03.07

March 07, 2012 11:21

The pair dropped to the 50-Day SMA by 1.0550. Consolidating below this level would confirm corrective declines ahead of the 200-Day SMA by 1.0400. However, should the pair hold above the 50-Day SMA, we could see a recovery back towards the 1.0850 resistance, with a break above to confirm 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.

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