AUD/USD : 1.04 as key level
--- New analysis ---
The pair AUD/USD got out last friday of its bullish channel and has continued its movement by taking support on the lower band of the channel (blue lines). Yesterday, the price felt strongly below 1.04 and is currently testing 1.0350.
We advise to trade the pair according to the key level at 1.04:
- Only short positions below 1.04. A pullback on this level stay possible. The breakout of 1.0350 will offer a new sell signa and should allow the price to pursuit its movement towards 1.03.
- Only long positions above 1.04. The breakout of 1.0460 will give a new buy signal and will open the way towards the resistance at 1.05.
Analysis published by Vincent, the 11/15/2012 at 10h00 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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