The AUD/USD pair fell during the Tuesday session to form a second hammer in a row. The pair looks healthy at this point, and the 1.05 level seems to keep offering more buyers. The pair is bullish over the last several months, and we will continue to buy this pair at this point on signs of strength. The breaking of the top of the Monday and Tuesday session will be a solid buy signal in this pair as it solidifies the 1.05 level as support. Below that, there is a 1.04 level that should continue to offer support as well. We will not sell until we close well below that on the daily chart.

AUD/USD

AUD/USD Forecast March 14, 2012, Technical Analysis

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

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
1.0412
1.0449
1.0483
1.0520
1.0554
1.0591
1.0625

 Fibonacci
1.0449
1.0476
1.0493
1.0520
1.0547
1.0564
1.0591

 Camarilla
1.0498
1.0504
1.0511
1.0520
1.0524
1.0531
1.0537

 Woodie's
-
1.0449
1.0482
1.0519
1.0553
1.0591
-

 DeMark's
-
-
1.0537
1.0512
1.0466
-
-