24 February 2011

AUD/USD : Forming Weekly Triangle

  • Sold off from recent high of 1.0159 to low of 0.9963 in general Risk Off environment driven by Libya + NZ earthquake of the last 3 sessions.
  • Monthly : Still an uptrend.
  • Weekly and Daily : Triangle being formed. Upside boundary is at 1.0169. Buy stop-in on break above 1.0169. (Now at 1.0067).

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