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AUD/USD Classical Technical Report 05.02

AUD/USD Classical Technical Report 05.02

2012-05-02 06:05:00
Joel Kruger, Technical Strategist
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daily_classical_aussie_body_aud.png, AUD/USD Classical Technical Report 05.02

AUD/USD: Our bearish outlook in this market remains intact and we continue to project deeper setbacks over the coming days and weeks back below parity. A fresh lower top is now sought out by 1.0475 but only back above 1.0640 would ultimately delay and give reason for concern. From here, look for a break back below 1.0225 to confirm bias and accelerate declines.

--- Written by Joel Kruger, Technical Currency Strategist

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

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