AUDUSD: Resumes Its Short Term Uptrend.
AUDUSD: The pair continues to build on its recent upside recovery reversing its intra-day losses to close higher at 0.7481 on Wednesday. Risk for additional upside gains has opened towards the 0.7565 level, its .618 Ret(0.8520-0.6008 declines) ahead of the 0.7800 level, its psycho level. Both its daily and weekly momentum indicators are bullish suggesting further strength. On the downside, the 0.7400 level, its Psycho level and the 0.7325 level, its April 13’09 high come in as the next downside objective followed by its 200 ema at 0.71562 and then its April 20’09 low at 0.6978/52. Overall, with the clearance of the 0.7325 level seen further upmove is now expected
Support Comments
0.7400 Psycho level
0.7325 April 13’09 high
0.7153 Daily 200 ema
Resistance Comments
0.7565 .618 Ret(0.8520-0.6008 declines)
0.7800 Psycho level
0.8518 Sept 22’09 high
This is an excerpt from FXT Technical Strategist Plus, a 7-currency model analysis. Take A One Week Free Trial atwww.fxtechstrategy.com
This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are those of FXTechstrategy.com own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which FXTechstrategy.com incurs any responsibility. FXTstrategy.com does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report
