AUD/USD Technical Analysis (Australian Dollar / US DOllar)

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January 22, 2013 10:00 PM EST

Updated the:
AUD/USD : Short term bearish channel

Sentiment :



--- Follow up analysis ---
The pair AUD/USD has started last night a bullish rally. The upward breaks of 1.0525 and 1.0550 offered new buy signals. On this movement, the pair has also validated an output of its short-term bearish channel (brown segments on the 1h charts). 1.0550 is now support.

I advise to trade only long positions parity as far as the price is above 1.0525.
A stay above 1.0550 will reinforce the bullish sentiment.
A break of 1.0575 will give a new buy signal and allow a return of 1.06 or higher if this resistance is also broken.

In case of return below 1.0525, then I will advise traders to wait a break of 1.05 before trading short positions.
Full analysis

Analysis published by Vincent, the 01/21/2013 at 09h30 GMT+2

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