Technical Analysis: AUD/USD 2012.05.24

May 24, 2012 12:54

The pair almost reached the 0.9660 support. Breaking below this level would open the door for testing the key 0.9385 support. Any recovery is expected to be capped ahead of 0.9900-1.0000. Only a clear break above parity would negate our outlook and confirm gains towards the 1.0250-1.0300 resistance area, right where the 50-Day SMA and the 200-Day SMA reside. 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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