|AUD/USD : Exit of the medium term bullish channel|
The pair AUD/USD got out at the end of the last week of its medium term bullish channel (purple lines) and just broke the support at 1.04, giving us a sell signal.
We advise to trade only short positions as far as 1.0450 is resistance. The breakout of 1.0350 will give a new sell signal and will open the way towards 1.03. This bearish scenario is reinforced by a bearish channel on h1 (brown lines).
In case of return above 1.0450, we will be neutral between this level and 1.05.
Analysis published by Bruno, the 08/28/2012 at 09h30 GMT+2
Updated the 08/31 - The pair AUD/USD has continued its bearish movement into its bearish channel in h1 (brown lines) and the support at 1.03 has just been broken (new sell signal).
The pursuit of the movement will now depends on Bernanke's speech and the announcement of the new QE or not. Technically, we continue to advise short positions as far as 1.04 is resistance. The breakout of 1.0250 will give a new sell signal and will allow the price to reach the supprot at 1.02.
In case of return above 1.04, a buy signal will be given.
|Complete sheet of the pair AUD/USD - Previous AUD/USD Analysis|
|Chart of the pair AUD/USD - Timeframe 4H|
|Chart of the pair AUD/USD - Timeframe 1H|
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