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AUD/USD: Failed To Reach Target

Published 03/31/2014, 07:15 AM
Updated 07/09/2023, 06:31 AM
AUD/USD
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AUD/USD Weekly Chart

The AUD/USDfailed to reach the next target of 9305/15, reaching 9295. The pair tumbled to immediate support at 9245/35 which as predicted, did hold the downside. Today meets good support at 9210/00 for a buying opportunity. A good chance of a low for the day but longs need stops below 9170 for the next buying opportunity at 9140/35 and a potential low for the week.

Immediate resistance at 9235/40 but above here is more positive for today and sees 9255/60 before a retest of last week's high at 9295. Any further gains run in to 9305/15 then resistance at 9335/40 and a good chance of a high for the week with the pair becoming severely overbought.

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