Sunday, April 1, 2012

What's Next With AUDUSD?

Looking at the daily from a linear perspective (close price), we can better identify levels that are most significant, by filtering out noise created by wicks on candle charts.  As you can see, $audusd has broken through its downward trendline.  The question is how much pullback should we expect.  $1.0150 began as resistance in Nov. 2010 and should provide adequate support should pricing ever reach there.  This pair is a buy on dips. 

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