Technical Analysis: AUD/USD 2012.04.11

April 11, 2012 11:51

  The pair is trading below the 1.0380-1.0400 resistance area, right where the 100-Day SMA and the 200-Day SMA reside, so the risks are on the downside and we look for a decline towards parity. Breaking below parity would accelerate declines ahead of the 0.9385 support in a medium-term. Only a break and consolidation back above 1.0400 would confirm a shift in a short-term structure and open a fresh upside extension towards the 50-Day SMA by 1.0570.     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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