AUD/USD Weekly Technical Report 15-19/4/2013
ecPulse
2013-04-15 09:38AM UTC
AUD/USD's strong downside movement has stopped in levels close to 1.0415, near to the uptrend's key support. The pair, however, settled below 1.0495 – key interval for the uptrend. Chances of wtinessing bullish attempts are likely but, we cannot rely on this outlook unless the pair stabilizes above 1.0495. Here on, we believe neutrality is the optimal choice.
* Trading range expected this week is between the key support at 1.0200 and the key resistance 1.0600.
* Short-term trend is downside targeting 0.9400 if 1.0710 remains intact.
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