Technical Analysis: AUD/USD 2012.04.17
The pair is trading below the 1.0380-1.0420 resistance area, right where the 100-Day SMA and the 200-Day SMA reside, so the risks are on the downside and we look for a new decline ahead of parity. Only a clear break and consolidation above the 1.0380-1.0420 area would confirm a shift in the short-term structure and open a fresh upside extension towards the 50-Day SMA by 1.0540 or higher ahead of the 1.0855 resistance. 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.