FX.co - AUD/USD Intraday Technical Analysis September 8, 2011

2011-09-08T10:28:47

Long-term review

As we see, Yesterday we had a long full body bullish candlestick in our favour.

Thus we have our suggested long position of the support level 1.0550 - 1.04888 in profit now.

Some profit can be taken now.

AUD/USD Intraday Technical Analysis September 8, 2011

Next resistance level to be watched is 1.0717 which is the retest of the broken bullish channel and previous daily high.

Price action towards this level determines if we hold the long position or we quit.

SL should be advanced to be below 1.0530 and some profit can be taken now.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Mohamed Samy

FX.co ★ AUD/USD Intraday Technical Analysis September 8, 2011