Monday, June 25, 2012

AUDUSD Analysis

With Audusd heading back to retest the former significant resistance level of 1.000, we would be looking for buying, but at a low price.

In H4, we see that audusd is currently resting at support, a past resistance level and coincides with fibonacci 31.8%. However, I would prefer to long when price drops further to the second yellow marked out region as it is a confluence zone and used to be a former resistance.

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