Friday, 10 February 2012

Daily Analysis : AUS/USD -10 Feb 2012

Looking at 1 hr chart,
1. uptrendline (T1) is broken convincingly
2. We are about to break an important support (T2) at 1.0685
3. RSI has dropped below 20.

This makes me turn bearish for time being. I will look to go short using RSI level strategy, preferably, at around 1.0735



Closeup chart.

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