FX.co ★ AUD/USD intraday technical levels for January 22, 2013

DESCRIPTION:

We have spotted a continuation pattern at the AUD/USD pair. In the event of all the moving average does not give us a clear trend formation, we know this currency has already entered the Sideways situation during its retracement from the upside momentum. For now, after the strong support 1.0500 near the 38.2% fibs was touched, this currency has a chance to go up, but now the 23.6% fibs at 1.0538 acts as a strong resistance.

Recomendation:

BUY at 1.0541.

Stop loss is at 1.0511.

Take profit is at 1.0585.

Best regards,
Arief Makmur
Official Analyst of InstaForex Companies Group
InstaForex Companies Group
https://instaforex.com
E-mail: Arief.jakarta@indo.instaforex.com

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