empty
 
 
03.10.2012 06:35 PM
AUD/USD Strong Support 1.0168 for October 03, 2012 (Daily Strategy)

The Australian dollar continued falling down after the RBA slashed its interest rates by 25 basis points. In a communiqué Governor Glenn Stevens said that the board considers that "on the back of international events, the growth outlook for next year could be weaker." Market sentiment remains weak in AUD until recent developments in the euro area and China are affecting this pair.

According to the graph, we see that the pair approaches to the last weekly support (W_S3) at 1.0168. This is a very strong support that was tested on September 5 which took the pair to the maximum of 1.0622. It is likely that the pair will rebound to 1.0390 from that level which is our goal in this bullish scenario.

This image is no longer relevant


 










If you need personal consultation, contact me via e-mail: [email protected]

If you like my technical analysis, please vote for me, in the portal MT5.com, please login and then vote for me. Thanks.

InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2026
Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $10000 more!
    In January we raffle $10000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback