Tuesday, 4 October 2011

Aussie Dollar Techs



Extending data from the Bear market described in Ozzie, Ozzie, Ozzie! Oi! Oi! Oi! , here are some technical levels that will govern AUDUSD price movement.

Fibbonacci numbers in blue are from Major Bull Run October 2008 to June 2011 (0.60 to 1.10)
Fibbonacci numbers in purple are from Minor Bull Run May 2010 to June 2011 (0.80 to 1.10)


1.0368USD Fib 23.6%
0.9928USD Fib 38.2%
0.9918USD August 9th Lows now (solid, tested and held) Resistance 
0.9891 Fib 23.6%
0.9572USD Fib 50% Major Short Term Resistance

Current price as I write 0.9520

0.9400USD April 2010 High now Support
0.9216USD Fib 61.8%
0.9156USD Fib 38.2% Major Short Term Support
0.8710USD Fib 78.6%
0.8562USD Fib 50%
0.8076USD May 2010 Low
0.7967USD Fib 61.8%

There are more below 0.7967 on the way to 0.60 but we'll cross that bridge when the above numbers get taken out.

Disclosure: I have been short AUDUSD from 0.998 on 28th September on the reversal off declining resistance.

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