Forex Technical Analysis AUD/USD

Discussion in 'Technical Analysis' started by Akriti, Aug 19, 2013.

  1. Akriti


    Corrective move seems to be well limited by resistance at 0.9230 which is slightly below the 23.60% of the 1.0598 to 0.8863 and the previous key resistance at 0.93. Down trend remains in place in the price pattern and the last upside is considered a corrective move before prices resume their negative development.

    Stochastic has just escaped its overbought zone and heading downwards increasing chances for negative resumption, adding to that Momentum (7) is near its peak level. However, Parabolic SAR still provides buy signal reducing chances for downside.