AUDUSD – Aussie Faces Major Support

23 May - AUDUSD Daily

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Hi All,

Just a quick update on the AUDUSD pair. Looking at the weekly chart, the pair is currently faced with a major obstacle – support level around 0.962. Price have been very bearish recently while the USD has been very bullish at the same time.

My bias is a short if it breaks below the support level. Until then, I shall wait on the side for price to unfold.

Thank you and happy trading!!

 

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1 Comment

  • Alwin Ng

    Alwin Ng

    Reply Reply May 23, 2013

    Looking at the 4 hr chart, PA seems pretty bullish.. hmm.. might need to change my view.. Will watch closely.

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