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AUDUSD: support at 0.9212-10:05 (CET)

19 Nov, 2009 @ 07:33 am ET | written by Advanced Currency Markets SA


What we see on this pair is the tonic on all dollar crosses. The greenback is strong and yesterday advanced against allmajors. If it continues with the same trend today, it will have to consolidate under 0.9212, which could lead to 0.9153 if the market has strength. If not, to 0.9177 dollars per Australian dollar. The RSI is marking oversold, so it's likely we'll see a retracement before trying to continue with a new downwards movement. If that doesn't happen, go back up to 0.924 could lead to an upwards day, targeting 0.9273 and 0.93.

Copyright 2009, Advanced Currency Markets SA, Forex Broker, All Rights Reserved

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