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AUD/USD Classical Technical Report 04.11

By Joel Kruger, Technical Strategist
11 April 2012 06:07 GMT
Daily_Classical_AUDUSD_body_aud.png, AUD/USD Classical Technical Report 04.11

AUD/USD: Our bearish outlook in this market is being reaffirmed with the latest pullback and we continue to project deeper setbacks over the coming days and weeks back below parity. A fresh lower top now looks to be carving by 1.0465 but only back above 1.0640 would delay and give reason for concern. From here, look for the latest break below 1.0300 to open the next downside extension towards 1.0000 over the coming sessions. Short-term bounces should be well offered towards 1.0450.

--- Written by Joel Kruger, Technical Currency Strategist

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11 April 2012 06:07 GMT