The AUD/USD pair bounced from the start of the 1.04 level on Thursday, overtaking the losses from the Wednesday session. The pair also bounced from the 38.2 Fibonacci level, and this bodes well for the bulls at this point. As the pair is in a bullish trend, we think this is a good sign to go long on. The breaking of the Thursday highs will be our signal to buy, and until we get below the 1.04 level on a daily close, we don't even consider selling this pair as it is so strong.

AUD/USD

AUD/USD Forecast March 16, 2012, Technical Analysis

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

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
1.0392
1.0432
1.0477
1.0517
1.0562
1.0602
1.0647

 Fibonacci
1.0432
1.0464
1.0484
1.0517
1.0549
1.0569
1.0602

 Camarilla
1.0500
1.0507
1.0515
1.0517
1.0531
1.0539
1.0546

 Woodie's
-
1.0433
1.0480
1.0518
1.0566
1.0603
-

 DeMark's
-
-
1.0582
1.0527
1.0497
-
-