FX.co - AUD/USD Survey according to the Point and Figure Charting for February 28, 2012

2012-02-28T07:04:51

Long-term review

The AUD/USD pair has nearly reached the strong resistance level 1.080 from where the descending movement is expected to resume.

Presently the price remains within the flat of the wave 1.080-1.060.

If the purchasers are able to overcome the resistance level 1.080, then the next target will be seen at the 1.084 level.

The breakdown of the resistance level 1.060 will provide strong signal for Sell-deals and open the way to the point 1.054.

The global tendency remains downward.

AUD/USD Survey according to the Point and Figure Charting for February 28, 2012

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

FX.co ★ AUD/USD Survey according to the Point and Figure Charting for February 28, 2012