March 26, 2012

AUDUSD Chart analysis

FOUR HOUR CHART
DAILY CHART
  • AUDUSD Four hour chart shows price near resistance line. Four hour chart also shows price getting resisted at the cloud. So bullish traders need a cloud break for a bigger up move to happen.
  • Daily chart shows a bull flag like correction. Breakout above the resistance line and 20 day SMA should result in an up move towards 1.0660 at least.
  • Getting resisted here at 20 SMA should take this pair towards the support line of the flag.

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