FX.co ★ AUD/USD technical analysis for November 21, 2013

Overview: (long term)

• AUD/USD: According to the previous events, the price has still been trapped between 0.9293 and 0.9230. Therefore, the first step is to wait for a period of tight sideways market before breakouts. Then, probably, the market is going to start showing bearish signs. In other words, it will be a good sign to sell below 0.9450 (it should be noted at the level of 0.9450 a double top is formed) with the first target at 0.9230 and the price will climb towards 0.9155.
• However, if the pair fails to break 0.9120, the market will indicate a bearish opportunity above 0.9120, then the level will really act as strong support. It will be a good sign to buy above 0.9120 with the first target at 0.9190 and it will call for an uptrend in order to continue bullish movement towards 0.9288.

Intraday technical levels:

Date & Time: 21/11/2013 13:44

Pair: AUD/USD

• Projected High: 0.9495
• Breakout (Buy Stop): 0.9440
• Strong Resistance (Sell Limit): 0.9410
• Current Pivot: 0.9295
• Strong Support (Buy Limit): 0.9179
• Breakout (Sell Stop): 0.9154
• Projected Low: 0.9104