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AUDUSD Analysis 02/12/14

FX:AUDUSD   Australian Dollar / U.S. Dollar
174 0 1
Long term trend: Down
Medium term trend: Down
Significant Levels: 0.9000 (Significant Round Number), 0.8310 (Horizontal Support), 0.8550 (Horizontal Resistance), Trend Line

The downtrend is still intact in this pair. Last Thursday, 27th of November, the price chart formed a bearish pin bar . This pin bar is a signal that AUDUSD             is still in the downtrend and the price will probably continue to go down. The pin bar is still a valid setup as of now. It would be great to place a sell limit below the nose of the pin bar and a stop loss above the tail.

Trade well.
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