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Technicals

AUD/USD - Australian Dollar US Dollar, European Session - 25/07/08

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24 July 2008 @ 09:45 pm EST
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0,9584. AUD USD is in an downtrend directed by 1H exponential moving averages. AUD USD is in a consolidation after the last bearish movement. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. The price should find a support above 0,9540. The downtrend seems to be finished.
=> We could take a long position at 0,9570. We will put the stop loss below 0,9535 (-35 pips). The targets are 0,9630 (+60 pips) 0,9680 (+110 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 1.
Resistances
0,9600 - 0,9635
Supports
0,9540 - 0,9490

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