AUD/USD
Medium-term view (July-December 2014)
We can see the importance of moving averages for this pair. This pair is the classic example of how the technical moving averages drive the pair. In the monthly chart, we can see a flag pattern. The pair has broken the 50 month Sma on May 2013 and closed below it. Later the pair attempted to cross it twice, but was rejected, thus making a new low whenever it tried to touch it. The Aussie is facing strong resistance at 0.9542 (November 2013 high). We can see strong momentum above 0.9542 for 0.9757, 0.9791 and 0.9892 levels in the next few months. On the downside, it has strong support at 0.9340 and 0.92 levels.
Intraweek - cmp 0.9438
The pair has support at 0.9428 and resistance at 0.9443. In Aisa's session, it is trading at the level of 0.9438. For an intraday view, we recommend buying above 0.9443 for 0.9454 and 0.9465 levels. The pair looks weak below 0.9428 near support levels at 0.9410 and 0.9390. If the pair breaks the previous support, it can hit the nearest strong support zone between 0.9350 and 0.9321 levels. The previous swing low at 0.9387 is seen to act as the intraweek support level.
The pair has a strong resistance level at 0.9443 (12 Hr high) and support at 0.9428 (12 Hr low). We recommend trading with 12 hr H/L levels.
Buy above 0.9443
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on market trends you may visit via Medium term forecast and an intraday recommendation for AUD/USD (July 03, 2014) . Thanks for your support on Medium term forecast and an intraday recommendation for AUD/USD (July 03, 2014)
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