FX.co ★ AUD/USD Intraday Technical Analysis September 6, 2011

The pair is now testing the support level 1.0550 - 1.04888.

This area is the level of previous multiple tops marked on the chart.

Based on the yesterday's analysis there was a bullish opportunity around 1.0550 - 1.04888.

We had a bullish engulfing 4H candlestick today confirming the importance of the level & strength of bulls there.

SL should be advanced to be below 1.0400.