Thread: Forex tips by AceTrader : AUD/USD

INTRA-DAY AUD/USD OUTLOOK : 0.6982

Updating time :12 Jan 2009 02:36 GMT
As 0.6964 has contained intra-day cross-inspired
selloff, further consolidation abv prev. sup at
0.6958 is seen but reckon 0.7010/20 wud limit up-
side n bring resumption of the decline fm last wk's
top at 0.7270 to 0.6910/20 later.

Sell A$ on recovery with stop as indicated, abv
wud prolong choppy trading n risk gain to 0.7070/80

Range Forecast
0.6970 / 0.7000

Resistance/Support
R: 0.7040/0.7108/0.7133
S: 0.6958/0.6915/0.6850

http://www.acetraderfx.com

16/01/09
AUD/USD intraday: continuation of the rebound.
Pivot: 0.6675

Our preference: Long positions above 0.6675 with targets @ 0.68 & 0.6875 in extension.

Alternative scenario: Below 0.6675 look for further downside with 0.66 & 0.6538 as targets.

Comment: the RSI is bullish and calls for further advance.