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Daily Forex Reports |
Written by Forex4you |
Monday, 23 July 2012 11:39 GMT
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The short term outlook for the aussie is uncertain: it has fallen sharply this morning and it may continue lower until it reaches the trend-line at around 1.0235. A deeper penetration would hit the 100-day MA at 1.0205 even. However, if this morning's gap is a measuring gap then it may have completed its fall and there is a possibility of a bounce up to the weekly pivot level at 1.0340. Longer-term we still appear to be rising inside a topping pattern or consolidation.
Written by Forex4you |
