AUD/USD : Exit of the medium term bearish channel
--- Follow up analysis ---
The pair AUD/USD has faked yesterday the breakout of the resistance at 1.04. The price is currently moving towards the lower band of its bullish channel (blue lines).
We advise to trade only long positions as far as 1.0325 is support. The breakout of 1.04 will give a new buy signal and will allow the price to pursuit its bullish movement towards 1.0450.
In case of return below 1.0325, we will advise to wait the breakout of 1.03 to trade short positions.
NB: Traders with a more agressive strategy could trade the pair according to 1.0350 (long above and short below).
Analysis published by Vincent, the 11/02/2012 at 09h30 GMT+2
Chart of the pair AUD/USD - Timeframe 4H
Chart of the pair AUD/USD - Timeframe 1H
|AUD/USD Live Chart - Timeframe : 4h|
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