AUD/USD
The Aussie dollar made a high at 0.9504 (four months high). The 20-month Sma pushed the pair off the top. The Aussie dollar had strong resistance at 0.9542 (the high of November 2013). Until the price breaks the previous high, trades can sell on the rally. If the pair manages to cross, we can see the bull extension path up to the 0.9757 and 0.9892 levels.
The monthly key resistance level is 0.9545, buy only above this.
For the intra week, the pair will face strong resistance at 0.9443 (high as on July 03). Fresh buyers, please buy only above this, or sell with sl 0.9443. If the pair breaks 0.9443, we can see some more upside movement to the 0.95 levels. In Asian session, the pair is holding above the 20-day Sma. It has support at 0.94 below 0.9348 (the 50-day Sma)
Sell below 0.94, Cmp 0.9423
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on market trends you may visit via Short-term forecast and intra week recommendations on AUD/USD for July 10, 2014 . Thanks for your support on Short-term forecast and intra week recommendations on AUD/USD for July 10, 2014
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