Wednesday, January 12, 2011

AUDUSD - Weekly Market Thought 12012010

Trend remain bullish medium term above 0.9740 and bearish short-term below 1.0088.
Bearish divergence last high and pullback coming.
Last 6 months green EMA 0.9870, good suport/reference area never close 2 consecutive weeks below.
Fow now hold first key suport area/trendline range [0.9740,0.9852].
Resistance: [1.0016,1.0088].
Weekly close above 1.0088 possible will test the highs 1.0260 again.
Weekly close below 0.9740 test [0.9320,0.9423].
Good Luck folks.

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