empty
 
 
04.05.2012 10:42 AM
AUD/USD Survey according to the Point and Figure Charting for May 4, 2012

 

Having overcome the support level 1.028, the AUD/USD pair has changed the main tendency to downside one. At the moment the pair has nearly reached the strong support level 1.024. In case it has been overcome, the strong signal for Sell-deals will be provided and the way to the point 1.014 will open.

The point 1.046 is considered as the strong resistance level where the main line of the descending trend is drawn. If this level is passed through, the tendency will change to uprising one and the new signal for Buy-deals will be formed.

Relative strength index of the AUD/USD is located in the O column confirming the sellers’ force.

Axel Rudolph's levels for today:

Pivot point (rotation point): 1.0279

If the price is below the pivot, an asset is considered as bearish.
If the price is above the pivot, an asset is considered as bullish.

Resistance 1: 1.0319
Resistance 2: 1.0375

Support 1: 1.0223
Support 1: 1.0183

As long as the main tendency remains downward, today it is recommended to sell the pair after a breakdown of the support level 1.0223 with 1.0183 seen as first target.

 

This image is no longer relevant

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 $8000 more!
    In March we raffle $8000 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