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04.01.2012 05:59 PM
AUD/USD Technical Analysis for January 4, 2012

Chart D1:

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AUD/USD pair, consulting the MACD and the stochastic, continues the uptrend – both indicators are above the signal lines and the MACD is also above 0. Inside the day and the week the long positions are allowed.
The nearest resistances will give the divergence grid 0.9387-1.0752-0.9663, 0.9663-1.0379-0.9861.
Closest resistance:
- 1.0507 = 61.8%
- 1.0577 = 100%
Overbought / oversold (D1)
Detrended Price Oscillator – DPO – is above zero, that in the conditions of a rising trend forces opening long deals only from rebounds as the price has moved far upside.
Additional support or resistance levels according to DPO: oversold area - 0.9980 and downside, overbought area - 1.0420 and up.

 

Chart Н4:

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On the midterm chart the pair forms a full-scale upmoving trend - MACD is above the signal line, though stochastic starts to go down which gives a possibility to enter a buy position from a rebound.
The additional resistances are calculated by the divergence grid 0.9861-1.0218-1.0044.
Additional resistances:
- 1.0401 = divergence 100%
- 1.0622 = 161.8%
Overbought / oversold (H4)
The indicator DPO is above zero, which means for an ascending long-term and midterm trend that it is needed to wait for retraces of the pair downside for long entry at a more profitable price as currently the chart is strongly extended upwards.
The additional support and resistance levels by DPO: oversold zone - 1.0280 and downside; overbought zone - 1.0410 and up.

 

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