AUD/USD : 1.04 as key level
--- Follow up analysis ---
The pair AUD/USD has validated yesterday a return above 1.04 but the price seems to have some difficulties to pursuit its movement above this level. The price has reached 1.0425 at its highest and is curently testing 1.04 as support.
We still advise to trade the pair according to the key level at 1.04:
- Only short positions below 1.04. 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 1.0440 will give a new buy signal and will open the way towards the resistance at 1.0480.
Analysis published by Vincent, the 11/20/2012 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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