WorldWideMarkets Community

Forex Trading, Market News & Technical Analysis

Australian Dollar Technical Analysis

Posted by Joseph Trevisani on Mar 13, 2013 6:33:00 PM


An Inside Day

Resistance 4: 1.0578 - Double Daily Top Jan 16 & 22
Resistance 3: 1.0477 - High January 30
Resistance 2: 1.0398 - High February 6
Resistance 1: 1.0374 - High February 15

LATEST PRICE: 1.0298

Support 1: 1.0268 - Low March 12
Support 2: 1.0205 - Low March 11
Support 3: 1.0178 - 21 day lower Bollinger band
Support 4: 1.0117 - 2013 low March 4

COMMENTARY: An inside day for the AUD/USD yesterday with the pair failing to
make an impact on the key 1.0374-98 resistance region which includes the
100-WMA (1.0379). The flat Bollinger bands are suggesting further sideways trading
within a 1.0175-1.0375 range. A close below the March 12 low is needed to
reconfirm bearish pressure.

 

MNI & WWM

Bloomberg

ScreenHunter 737 Mar. 13 18.45 resized 600

 

Tools & Educational Resources

Forex 101LEARN MORE >>
Learn the basics of Forex and how to practice trading the markets.

GlossaryLEARN MORE >>
Confused by the language? Click here and search for key trading terms.

FAQ CenterLEARN MORE >>
Browse our frequently asked questions and find your answers right away.

VideosLEARN MORE >>
Access to the educational lessons, webinars and platform walkthroughs.

READY TO TRY THE MARKETS?

Get started with a FREE $10,000 Demo Account and experience the Forex Market RISK FREE!