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Forex Trading, Market News & Technical Analysis

Currency Trading: Australian Dollar Technical Analysis

Posted by Joseph Trevisani on Apr 22, 2013 5:51:00 PM


Fresh 6 Week Lows

Resistance 4: 1.0478 - Previous daily support now resistance
Resistance 3: 1.0445 - Hourly resistance April 15
Resistance 2: 1.0399 - 200 day moving average
Resistance 1: 1.0358 - High April 19

PRICE: 1.0269  6:08 pm ET

Support 1: 1.0238 - Low March 22
Support 2: 1.0205 - Low March 11
Support 3: 1.0117 - 2013 Low March 4
Support 4: 1.0101 - Low July 12 2012

COMMENTARY: The AUD/USD remains little changed from this week's opening levels after trading at fresh 6 week lows. Initial resistance is now noted at the April 19 highs but a close above the 200-day-moving average remains needed to see focus shift from retests of the 2013 lows to retests of the 2013 highs. The falling 21 day lower Bollinger band comes in around 1.0235 today with spikes below to continue while the April 19 highs cap the market.

Market News International & WorldWideMarkets

 

Chart: Bloomberg

ScreenHunter 1012 Apr. 22 18.06

 

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