MBCFX forex technical analysis : AUD/USD :17 05 2012
The AUD/USD witnessed a sharp decrease in the previous trading from the 1.04 levels
* On the short term expectation: the prices still trading within a
bearish trend and the next target would be towards the Fibonacci 176.4
at the 0.9980 level
* On the average term expectation: the prices are trading within a
downward channel and the ADX indicator confirms that the bearish trend
start weakening and we expect it would test the bottom level of the
channel at the 0.9850 level ,then it should resume its upward movement ,
and should it breach up the 0.9964 level ,this will confirm that it
will continue to rise
* On the long term expectation: the general trend of the market would
still down and the next expected target of the prices would be towards
the 0.9600 level
to sup up : the AUD/USD trend on the short term expectation would
remain down , then it will make some up corrections towards the 0.9964
level ,however the general trend of the market will be bearish and the
next target on the long term expectation will be towards the 0.9600
level
Notice: we draw the attention of our dear clients to monitor the economic news especially the US data
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