FX.co ★ AUD/USD Noughs and Crosses analysis for December 6, 2011

The pair did not manage to pass the relevant resistance level at 1.034, which caused a considerable flat in the price graph.

At the moment the price is moving to the support level 1.015 where it is supposed to resume upside movement.

In case the 1.015 support level is broken the correction will last up to the additional upside trend line 1.007.

Break of the 1.034 resistance level will give a strong buy signal and open a way to the resistance at 1.043.

It is not recommended to sell the pair as the uptrend is strong and the price has a potential to pass the resistance at 1.034.

Support levels: 1.015, 1.007

Resistance levels: 1.034, 1.043