Trader_97

AUSSIE MAY TEST THE T.L RESISTANCE FROM 15TH SEPT 2014

FX_IDC:AUDUSD   AUSTRALIAN DOLLAR / US DOLLAR
14 0 1
WE CLOSED OUT FRIDAY ON THE DAILY TIME FRAME WITH A DOJI BUT WE ARE APPROACHING THE T.L RESISTANCE FROM 15TH SEPTEMBER 2014 AS WELL. T.L SUPPORT FROM SEPTEMBER 7TH OF 2015 STILL REMAINS INTACT AND PRICE HAS BOUNCED FOR THE THIRD TIME LAST WEEK FROM IT SO POSSIBLY MORE UPSIDE TO COME ON THIS PAIR IF THIS T.L SUPPORT CONTINUES TO STAY INTACT. WAIT FOR A CLEAR BREAK ABOVE FRIDAY LAST WEEKS HIGH FOR CONTINUATION HIGHER.WE HAVE SOME MINOR SUPPORT AROUND 0.7064 AND A STRONG SUPPORT AROUND 0.6936 AREA.ALSO KEEP IN MIND THAT AUSSIE HAS TESTED THE 0.236% AND THE 0.382% RETRACEMENT LEVELS BUT FAILED TO CLOSE ABOVE THOSE WHICH GIVES ALL THE MORE REASON TO WATCH HOW PRICE WILL REACT TO THOSE IF WE MOVE HIGHER WHEN WE KICK OFF THIS WEEK.SO A CLOSE ABOVE THE 0.236% FIB LEVEL AT 0.7198-0.7200 AND BREAKOUT FROM THE TREND LINE RESISTANCE AND WE COULD SEE A RETEST OF 0.7278-80 AS WELL..... THE PAIR STILL REMAINS BEARISH UNTIL WE SEE A MOVE ABOVE 0.7384 AREA FOR MEDIUM TERM
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