AUD/USD Weekly technical Outlook

14 November 2009 @ 12:13 pm EDT

AUD/USD edged to new 2009 high of 0.9368 last week but lost some momentum since then. Nevertheless, subsequent retreat was contained by 4 hours 55 EMA and AUD/USD rebounded strongly. The development argues that recent rally in AUD/USD is not over yet. Initial bias is mildly on the upside this week. Break of 0.9368 will bring rally resumption to 100% projection of 0.6284 to 0.8262 from 0.7702 at 0.9680. On the downside, below 0.9209 will indicate that pull back from 0.9368 is still in progress and flip intraday bias back to the downside instead.

Copyright 2009 ActionForex, All rights reserved.

E-Newsletters

We value your privacy. Your email address will not be shared.

Home
World
US
Economy
Companies
Tech
Science
Global Markets
Education
Real Estate
Forex
Commodities
Gold & Silver Matters
More Sections
Fashion
Auto
Travel
Health
Law
Entertainment
Sports
Luxury
Art
Books
Tech & Trend
Tools & Features
Topics
Blogs
Market Data
Stock Watch List
Investment Calculator
Financial Glossary
Broker Center
World Business Headlines
Updates
RSS Feeds
IBTimes on Twitter
IBTimes on Facebook
E-Newsletters
Services
Forex Newsfeed
Research
Press Release
About IBTimes
News Licensing
Media Kit
Advertise with Us
About IBTimes
Contact Us
Terms of Service
Privacy Policy