AUD/USD fell on Wednesday as the risk appetite fell for the session. The pair has enjoyed a strong run up, and at this time looks like it could be taking a rest. The 1.08 level above still offers strong resistance, and the 1.06 level seems supportive although we did pierce the level earlier in the session. With this entire mind, a pullback could be coming, and we would welcome that as a buying opportunity. The 1.04 level is the breakout point that we need to see the market stay above to continue the run higher, and we will not sell until a sub-1.04 daily close is posted.

AUD/USD

AUD/USD Forecast February 23, 2012, Technical Analysis

AUD/USD Pivot Points (Time Frame: 1 Day)

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
1.0512
1.0561
1.0603
1.0652
1.0694
1.0743
1.0785

 Fibonacci
1.0561
1.0596
1.0617
1.0652
1.0687
1.0708
1.0743

 Camarilla
1.0620
1.0629
1.0637
1.0652
1.0654
1.0662
1.0671

 Woodie's
-
1.0559
1.0600
1.0651
1.0691
1.0741
-

 DeMark's
-
-
1.0673
1.0642
1.0582
-
-