From 4 March 2013 currency pair currency pair continued to grow from 1.0200. High resistance at 1.0400 which will be retest of Monday April 1 and goes upward 1.0480 to 1.05260.
Alternative scenario: if the rate goes down to 1.0340 then it can go up to 1.0245
Conclusions on Monday will be a critical moment when the course is 1.0430
You need to follow the channel of the exchange rate between 1.035 and 1.040
According to technical analysis currency pair has reached resistance at 1.0480
If it goes over 1.0480 next resistance line is 1.05260
If it falls below 1.040 to 1.0350 support line
Decline in Chinese stocks had a big impact on the exchange rate. China is Australia's biggest trading partner and therefore development in China usually affects the mood of the Australian economic markets. Next week brings the announcement of the interest rate for Australia. Be carefully monitored.
according to the price action theory applicable in daily chart, we see a bullish hammer that came out in past month.... aussie abides by it pretty well.... so if it breaks strong resistance level of 1.05, then it wud go further ahead upwards...
I don't think so. AUD/USD is in ranging conditions and that mean it is most probably after the gains it has in the last several weeks to make some retracement back to 1.03 levels. It is not something for sure but it will surprise me if it start a clear up trend!
people are gonna buy it on dips... its a fake impression that it gave today, may be it is in form of correction of 100 points.... the data came out to be very good, plus the interest rate is on hold on 3%.... aussie is bullish for me... next attempt MIGHT be able to break 1.05 level...