Tuesday, February 12, 2013

Being level 76.4% Selling Pressure AUSUSD

This week at the start AUDUSD trade selling pressure. AUDUSD position remained below the moving average today is AUDUSD 1.0370 even today have not been able to cross the intraday resistance at 1.0346.

Selling pressure was brought AUDUSD approaching 76.4% Fibonacci retracement level of the recent rising trend as seen on the daily chart. These levels are at 1.0256 and has touched on the trading session last weekend.

If the support area remained, the AUDUSD has the potential to continue to consolidate correction or at least near that level in the next few days.

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