Printer Friendly
The Free Library
22,741,889 articles and books

Australian Dollar Crosses Approach Important Resistance.



-AUDCHF Fibonacci resistance at .8880 -AUDCAD testing resistance line from October -AUDNZD sights still on 1.3000 Australian Dollar / Swiss Franc The multi month AUDCHF rally (which is choppy and corrective in nature) is nearing the 61.8% retracement of the entire decline from 1.0091; at .8882. This is a potentially significant level that could see a reversal. Signs such as RSI (Repetitive Strain Injury) Ailments of the hands, neck, back and eyes due to computer use. The remedy for RSI is frequent breaks which should include stretching or yoga postures.  divergence warn of a reversal as well. Australian Dollar / Canadian Dollar While additional upside seems likely, there are warning signs (such as RSI divergence) that the AUDCAD rally is also unsustainable. The pair is testing resistance from a line extended from daily highs in October, January, and April. A push above there exposes the 78.6% retracement of the decline from .9853; which is at .9274. Australian Dollar / New Zealand Dollar Noun 1. New Zealand dollar - the basic unit of money in New Zealand
dollar - the basic monetary unit in many countries; equal to 100 cents
 The AUDNZD decline that ended just shy of the 61.8% of 1.2009-1.2949 at 1.2360 may have been a small second wave within an ongoing impulse from 1.2009. The larger trend is bullish above 1.2009 and a break through 1.30 is expected. Price ideally remains above 1.2380. Jamie Saettele publishes Daily Technicals every weekday morning (930 am EST EST electroshock therapy.

EST
abbr.
electroshock therapy
), COT analysis (published Monday mornings), technical analysis of currency crosses throughout the week (EUR EUR

In currencies, this is the abbreviation for the Euro.

Notes:
The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion.
 on Tuesday, JPY JPY

In currencies, this is the abbreviation for the Japanese Yen.

Notes:
The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion.
 on Wednesday, GBP GBP

In currencies, this is the abbreviation for the British Pound.

Notes:
The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion.
 on Thursday, AUD on Friday), and the DFX Trend Index every day after the NY close. He is also the author of Sentiment in the Forex Market. Please send comments about this report to jsaettele@dailyfx.com

2009 Al Bawaba (Albawaba.com)

Provided by Syndigate.info an Albawaba.com company
COPYRIGHT 2009 Al Bawaba (Middle East) Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Mena Report
Date:Jun 12, 2009
Words:269
Previous Article:EUR/USD:Trading the German ZEW Investor Confidence Survey.
Next Article:SSI: USDCHF Open Interest Drops As Retail Traders Let Up on Range Convictions.
Topics:

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters