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29 Mar 2013
Forex: AUD/USD sideways trading at 1.0409/10
FXstreet.com (Barcelona) - The AUD/USD has continued its sideways trading Friday, in a heavily muted session given the Easter holidays. Having moved little off its opening, the cross is now incurring a marginal loss of -0.01%, settling at 1.0409/10 in these moments.
Briefing the technicals, the AUD/USD is slated to face calculated support at 1.0385, ahead of 1.0360, and finally 1.0324. Conversely, any recovery attempt and subsequent movement to the upside will encounter means of resistance at 1.0446, then 1.0482 and finally 1.0507, notes the Mataf.net technical analyst team.
“The AUD/USD is trading below the 1.0415, causing the extension of negativity, supported by a technical formation looking like the Rising Wedge. Moreover, the linear regression indicators performed a negative crossover, the thing that promotes negativity.” warns the ICN.com analyst team.
Briefing the technicals, the AUD/USD is slated to face calculated support at 1.0385, ahead of 1.0360, and finally 1.0324. Conversely, any recovery attempt and subsequent movement to the upside will encounter means of resistance at 1.0446, then 1.0482 and finally 1.0507, notes the Mataf.net technical analyst team.
“The AUD/USD is trading below the 1.0415, causing the extension of negativity, supported by a technical formation looking like the Rising Wedge. Moreover, the linear regression indicators performed a negative crossover, the thing that promotes negativity.” warns the ICN.com analyst team.