FX.co ★ AUD/USD technical analysis for January 25, 2013

DESCRIPTION:

We spotted the AUD/USD pair has already broke out bellow the Downtrend channel. Although the previous support at 1.0485 has already been breached, it indicates the pair has now a downside momentum and it seems it will be trying to go towards 1.0395.

Recomendation:

SELL at 1.0424.

Stop loss is at 1.0434.

Take profit is at 1.0420.

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

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