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AUD/USD Classical Technical Report 05.07

AUD/USD Classical Technical Report 05.07

2012-05-07 08:15:00
Joel Kruger, Technical Strategist
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Daily_Classical_AUDUSD_body_aud.png, AUD/USD Classical Technical Report 05.07

AUD/USD: Our bearish outlook in this market remains intact and we continue to project deeper setbacks over the coming days and weeks. A fresh lower top has now been confirmed by 1.0475 following the latest break below 1.0225 and from here, look for a break and weekly close back below 1.0225 to confirm bias and accelerate declines below parity. Ultimately, only back above 1.0475 negates.

--- Written by Joel Kruger, Technical Currency Strategist

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

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