We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Wall Street
More View more
AUD/USD Classical Technical Report 01.26

AUD/USD Classical Technical Report 01.26

2012-01-26 09:47:00
Joel Kruger, Technical Strategist
Daily_Classical_AUDUSD_body_aud2.png, AUD/USD Classical Technical Report 01.26

AUD/USD: The recent break and close back above the 200-Day SMA is concerning and compromises our broader bearish outlook for the pair. However, we still see any additional gains beyond 1.0500 as limited with the market at risk for carving out the next major lower top ahead of a fresh downside extension back below parity. Rallies have now extended beyond 1.0600 to leave daily studies in overbought territory and the market now focuses on next key resistance by 1.0755 from late October. We will look to be aggressive sellers on a push beyond 1.0700 in anticipation of a major bearish reversal back below parity.

--- Written by Joel Kruger, Technical Currency Strategist

To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger

To be added to Joel Kruger’s distribution list, send an email with subject line “Distribution List” to jskruger@dailyfx.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.


News & Analysis at your fingertips.