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

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January 31, 2013 1:50 AM EST

Updated the:
AUD/USD : Short term bearish channel

Sentiment :



--- Follow up analysis ---
The pair AUD/USD found support to bounce on 1.04 and validate a return above 1.0450.
The price is on the upper band of its downtrend channel (brown segments).

I advise traders to remain flat on the pair as far as the price will be between 1.0450 and 1.05.
I would advise to wait an exit of this range to take position

- Short positions if 1.0450 is broken. A break of 1.04 would give a new sell signal.

- Long positions if an upward break of 1.05 occur. Attention, downtrend channel parallel can also be traced through the high made on 22th and 23th of January. This parallel would also be resistance.
Full analysis

Analysis published by Vincent, the 01/30/2013 at 09h30 GMT+2

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