The fears that the support at 1.0230/35 can push the pair up and that the consolidation in the sideways range between 1.0370 – 1.0240/30 will continue, confirmed. The pair continued its growth and is now at 1.0290, after testing the level of 1.0340. The indicators give no clear signals, which means that the price will remain in the formed price range. The inability of the bullish trend to break out of the short-term downtrend channel (the red dotted line) favors the continued bearish trend. Obviously, now the priority is left on continued downtrend to 1.0150/40, as noted above.
Technical analysis AUD/USD 25 February 2013
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