Friday, June 6, 2014

aud/usd daily ,cannot breakout .9200 level,so market thinking uptend

AUDUSD rallying strongly today, it now looks to strengthen further. However, it requires a decisive break and hold above the 0.9328 point on a daily closing basis to create scope for more gains. Further out, resistance resides at the 1.0941 point
with a break targeting the 0.9388 point. Further out, resistance resides at the 0.9400 point and then the 0.9460 point followed by the 0.9500 point. Its daily RSI is buy and pointing higher supporting this view. The risk to this analysis will be a return to the 0.9256 point where a break could force further downside towards the 0.9200 point where a break will aim at the 0.9150 point. Further down, support comes in at the 0.9100 point, its psycho level. Allover, the pair remains biased to the upside

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