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February 4, 2013

Weekly forex post – AUD/USD 4th – 9th February ,2013

Posted by: @ 04:10 GMT Category: AUD/USD,Signals,Weekly Forex

Technical view – AUD/USD

AUD/USD this week

SPOT AUD/USD Previous week OHLC
Open High Low Close Change
1.0415 1.0476 1.0358 1.0405 -0.0017
Weekly Support and Resistance
R3 1.0660
R2 1.0535
R1 1.0480
S1 1.0380
S2 1.0225
S3 1.0175

AUD/USD extended its losses for the third successive week to close lower by 0.16%. The pair was seen consolidating in the1.0350- 1.0550. Close below 1.0380, the pair can slide to 1.0175- 1.0225. The trend remains bearish with the upside capped at 1.0525- 1.0550

audusd weekly chart

Trend direction

  • Near, medium term trend- Bearish; Long term trend- Bullish


  • Long:
    • Long AUD/USD at 1.0350 with a stop loss at 1.0320 for a profit target of 1.0450.
  • Short:
    • Short AUD/USD at 1.0320 with a stop loss at 1.0360 for a profit target of 1.0230
    • Short AUD/USD at 1.0540 with a stop loss at 1.0590 for a profit target of 1.0400
Post ID: 3748
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