The AUD/USD pair fell during the Monday session as the consolidation in this market continued. The 1.08 level has continued to show real strength as a resistive level, and the 1.06 level has been very supportive at the same time. Because of this, the pair looks as if it is simply taking a rest after the nice run up it had from the previous move. The 1.04 below is still very supportive as well in our view, and we still think 1.12 is a doable target in the end. On signs of support at 1.06, we are willing to buy, and if we don't get it - we are even more interested at the 1.04 level.

AUD/USD

AUD/USD Forecast March 6, 2012, Technical Analysis

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

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
1.0470
1.0537
1.0581
1.0648
1.0692
1.0759
1.0803

 Fibonacci
1.0537
1.0579
1.0605
1.0648
1.0690
1.0716
1.0759

 Camarilla
1.0595
1.0606
1.0616
1.0648
1.0636
1.0646
1.0657

 Woodie's
-
1.0531
1.0571
1.0642
1.0681
1.0753
-

 DeMark's
-
-
1.0670
1.0636
1.0559
-
-