Date: 05.11.2012 Time: 18:09 Rate: 1.0366
4 Hour chart
Last Review
AUD/USD Forecast- the price is touching the 1.0387 price level again while breaching this level and the closest resistance on the 1.0411 price level will probably lead the price towards the next resistance on the 1.0474 price level at first stage. On the other hand, stoppage of the price at the current area and breaking the 1.0300 price level will create a descending price structure with first target of the price will be the last low on the 1.0250 price level and breaking this level will lead the price towards the 1.0200 and the 1.0150 price levels.
Current review for today
AUD/USD Forecast- the price did not succeed in its attempt to breach the 1.0411 resistance level and descended to the middle of the range between the Bollinger bands again. Stoppage of the price at the current area and breaking the 1.0300 price level will create a descending price structure while the first target of the price will be the last low on the 1.0250 price level which is a 61.8% Fibonacci correction level of the uptrend marked with black broken line. On the other hand, stoppage of the price at the current area and breaching the 1.411 price level will lead the price north towards its first target on the 1.0443 price level, which is a 61.8 Fibonacci correction level of the downtrend marked with red broken line.
You can see the chart below:
