AUD USD visits the short term support 12/11/2012
Economies.com
2012-11-12 06:35AM UTC
The pair declined to hit the support level of the short term bullish trend which met the 61.8% Fibonacci level shown in the image, where it bounced to the upside strongly to settle above 1.0400.
Therefore, we are continuing with our bullish trend scenario which initially targets 1.0550 then 1.0750, while achieving it requires stabilizing above 1.0365.
Expected trading range for this week is between: 1.0300 support and 1.0750 resistance.
Expected trend for this week: Bullish
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