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AUD/USD Technical Analysis
(Australian Dollar / US DOllar)
Updated the: 05/21/2013 |
AUD/USD : Descending broadening right angle |
Sentiment :  0.9850  0.98  |
--- Follow up analysis ---
The pair AUD/USD has validated yesterday a break of its bearish slant (blue line on the graph). A quick pullback on this line was made this night.
This morning, the price is back above 0.98. On the medium term, the price is still far away from its Descending broadening right angle pattern (pink lines ), and its bearish slant (orange line on the 1 hour chart) I advise traders to trade the pair outside the range 0.98 / 0.9850: - Stay flat between 0.98 and 0.9850. - Trade only long positions above 0.9850. A break of 0.99 will offer a new buy signal for an extension of the correction. - Trade only short positions below 0.98. A break of 0.9750 will offer a new sell signal for a return on the low formed above 0.97. Attention to the bearish slant (blue line), which could still allow a rebound. Full analysis Analysis published by Vincent, the 05/21/2013 at 09h30 GMT+2 |
Chart of the pair AUD/USD - Timeframe 1H |
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Live AUD/USD Chart - Timeframe : 1H*
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