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AUD/USD levels (from MNI)

Posted by Joseph Trevisani on Feb 12, 2013 6:17:00 PM

AUSSIE TECHS: Bounces From Fresh 4 Month Lows

RES 4: 1.0477 - High January 30
RES 3: 1.0436 - 21 day moving average
RES 2: 1.0398 - High February 6
RES 1: 1.0346 - High February 8

LATEST PRICE: 1.0306

SUP 1: 1.0228 - Low February 12
SUP 2: 1.0150 - Monthly low October 8
SUP 3: 1.0101 - Monthly low July 12
SUP 4: 0.9972 - Low June 25


COMMENTARY: The AUD/USD managed a brief dip below the Oct 23 low before bouncing back towards initial resistance. We will continue to look for a close back above the Feb 8 high to relieve the current downside pressure which would then increase the risk of a bounce back to the Jan 30 high. Divergence in daily momentum is an issue while other daily tech studies remain in oversold territory.

 

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