Technical Analysis: AUD/USD 2012.03.09
March 09, 2012 09:04
The pair broke back above 1.0600. Should it hold on its gains, the uptrend will likely continue towards the 1.0850 resistance. The nearest support is eyed by the 50-Day SMA at 1.0575. Only a break and consolidation below this level would accelerate corrective declines towards the 1.0370-1.0400 support area, right where the 100-Day SMA and the 200-Day SMA reside.
Edward Smith, technical analyst of company Admiral Markets.
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