3 Oct 2014 AUD/USD Analysis


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Australian dollar traded off the low of 0.866 on Wednesday before data yesterday ensured a daily rise against the U.S dollar. Indicators show that the mid term trend is still towards the bearish side, taking into consideration the intention of the RBA and the strength of the U.S dollar. While an intraday buy seems feasible and tempting, a trade not higher than 0.885 will see the pair follow on its fall towards the “just nice” level of 0.85

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
 Slight bullish/ near resistance 0.865 0.87 0.877 0.882 0.885 0.89

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