Technical Analysis: AUD/USD 2012.03.28
The pair broke back below 1.0500 and in a short-term could retest the 1.0370-1.0400 area, right where the 100-Day SMA and the 200-Day SMA reside. A break and consolidation below this area would confirm the bearish bias and accelerate declines ahead of parity. Any resumption is expected to be capped ahead of the 50-Day SMA by 1.0620. Only a daily close above the 50-Day SMA would confirm the uptrend ahead of the 1.0850 resistance.
Edward Smith, technical analyst of company Admiral Markets.
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