AUD/USD : Exit of the medium term bearish channel
--- Follow up analysis ---
The pair AUD/USD has validated yesterday a return above 1.0440, offering a new buy signal. The price is currently finding resistance on the lower band of its medium term bullish channel (blue lines).
We advise to trade only long positions as far as 1.04 is support. The breakout of 1.0460 will give a new buy signal and should allow the price to reach the resistance at 1.05.
In case of return below 1.04, we will then advise to trade short positions.
Analysis published by Vincent, the 11/14/2012 at 10h45 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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