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AUD/USD - Australian Dollar US Dollar, European Session - 17/11/08

16 Nov, 2008 @ 09:48 pm ET | written by Mataf


0,6463. AUD USD is in a range between 0,6340 and 0,6660. AUD USD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is high. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. The price should continue to move in 0,6340 / 0,6665 range. If the support is broken then the target will be 0,6000 (463 pips).
We are waiting for a break of the support to take a short position.
Resistances
0,6510 - 0,6665
Supports
0,6340 - 0,6020

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

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