Technical Analysis: AUD/USD 2012.04.12

April 12, 2012 11:55

The pair surged back to the 1.0380-1.0400 resistance area, right where the 100-Day SMA and the 200-Day SMA reside. Should it break and hold above 1.0400, it will confirm a shift in a short-term structure and open a fresh upside extension towards the 50-Day SMA by 1.0565. Otherwise, we see the risks of a new decline towards parity.

Edward Smith, technical analyst of company Admiral Markets.

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