Technical Analysis: AUD/USD 2012.03.06

  The pair dropped to the 1.0600 support. A clear break below this level and then breaking the 50-Day SMA by 1.0550 would confirm corrective declines ahead of the 200-Day SMA by 1.0400. However, should the pair hold above the 1.0550-1.0600 support area, we could see a recovery back towards the 1.0850 resistance, with a break above to confirm the upside rally towards the 1.1080 high.     Edward Smith, technical analyst of company Admiral Markets.   At any use of the analytical material taken from a site of company Admiral Markets, and the secondary publication on any other resources, the rights to intellectual property for a dealing centre «Admiral Markets», the reference to a company site is obligatory.