Technical Analysis: AUD/USD 2012.03.22
March 22, 2012 10:25
The pair reached the 1.0370-1.0400 support area, right where the 100-Day SMA and the 200-Day SMA reside. A clear break below this area would confirm the bearish bias and accelerate declines ahead of parity. However, should the pair hold above 1.0370-1.0400, we could see a rebound back towards the 50-Day SMA by 1.0610, with a daily close above to confirm the uptrend ahead of the 1.0850 resistance.
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.