May 31, 2012

AUDUSD Chart Analysis

  • AUDUSD Monthly chart shows price testing crucial support zone.
  • Four hour chart is still trading below the cloud which will favor bearish trades. 
  • Daily chart too is trading below 20 Day SMA.
  • A trend change or trading bounce in favor of bulls of AUDUSD may happen only if the pair starts to trade above the cloud and 20 Day SMA, till then this down trend will remain strong.

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