AUDUSD Analysis.
AUDUSD broke above 1.0385 resistance and continued its upward movement from 0.9861. Further rise is expected after a minor consolidation, and next target would be at 1.0500 area. Support is now at 1.0300, as long as this level holds, uptrend could be expected to continue, however, a breakdown below this level will indicate that a cycle top has been formed at 1.0448 on 4-hour chart, then deeper decline to test 1.0145 key support could be seen.
Daily Forex Analysis – January 18, 2012
January 18th, 2012Daily Forex Analysis – January 16, 2012
January 16th, 2012AUDUSD Analysis.
AUDUSD moved sideways in a range between 1.0145 and 1.0385. Initial support is at the lower line of the price channel on 4-hour chart, and the key support is at 1.0145, as long as 1.0145 support holds, the price action in the trading range is treated as consolidation of uptrend from 0.9861, and another rise towards 1.0600 is still possible, only a breakdown below 1.0145 will indicate the the rise from 0.9861 has completed at 1.0385 already, then the following downward movement could bring price back to 0.9500 area.
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Daily Forex Analysis – January 13, 2012
January 13th, 2012USDCHF Analysis.
USDCHF continued its downward move from 0.9594, and the fall extended to as low as 0.9411. Further fall to test the support of the upward trend line from 0.9066 to 0.9304 is expected later today, as long as the trend line support holds, the price action from 0.9594 is treated as consolidation of uptrend from 0.8569 (Oct 27, 2011 low), another rise towards 1.0000 is still possible. However, a clear break below the trend line will suggest that the rise from 0.8569 has completed at 0.9594 already, then the following downward movement could bring price back to 0.8850 area.
Daily Forex Analysis – January 12, 2012
January 12th, 2012AUDUSD Analysis.
AUDUSD stays in a upward price channel on 4-hour chart, and remains in uptrend from 0.9861. Initial support is at the lower line of the channel, as long as the channel support holds, the price action from 1.0385 is treated as consolidation of uptrend, and another rise towards 1.0600 is still possible. Key support is at 1.0145, only break below this level will indicate that the uptrend has completed at 1.0385 already, then the following downward movement could bring price back to 0.9800 zone.
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Daily Forex Analysis – January 11, 2012
January 11th, 2012AUDUSD Analysis.
AUDUSD’s bounce from the lower border of the price channel on 4-hour chart is likely resumption of uptrend from 0.9861. Further rise to test 1.0385 resistance would likely be seen later today, a break above this level could bring price to 1.0600 area. Initial support is now located at 1.0230, only break below this level could indicate that lengthier consolidation of uptrend is underway, then sideways movement in a range between 1.0145 and 1.0385 could be seen.
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Daily Forex Analysis – January 10, 2012
January 10th, 2012AUDUSD Analysis.
Being supported by the lower border of the price channel on 4-hour chart, AUDUSD rebounded from 1.0145, suggesting that the fall from 1.0385 has completed. Now the bounce would possibly be resumption of uptrend from 0.9861, further rise to test 1.0385 resistance is expected later today, a break above this level could bring price to 1.0600 area. Key support is now at 1.0145, only break below this level will indicate that the rise from 0.9861 had completed at 1.0385 already, then the following downward move could pull price back to 0.9500 zone.
Daily Forex Analysis – January 9, 2012
January 9th, 2012AUDUSD Analysis.
After touching 1.0378 resistance, AUDUSD pulled back from 1.0385, however, the fall from 1.0385 would possibly be consolidation of uptrend from 0.9861. Key support is now located at the lower line of the price channel on 4-hour chart, as long as the channel support holds, we’d expect uptrend to resume, and one more rise towards 1.0600 is still possible. One the downside, a clear break below the channel support will indicate that the rise from 0.9861 has completed at 1.0385 already, then the following downward movement could bring price back to 0.9500 area.
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