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

20 Aug, 2008 @ 11:31 pm ET | written by Mataf


0,9100. AUD USD is in an downtrend directed by 1H exponential moving averages. The volatility is low. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on AUD USD. The price should find a support above 0,9050 / 0,9100. The consolidation should continue. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
0,9130 - 0,9190
Supports
0,9065 - 0,9050

For more forex information, go to www.mataf.net

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