Title: Special Focus On AUDUSD 18 11 11
1 Saturday 02th of Nov 2011
SPECIAL FOCUS AUDUSDP\
FXTechstrategy Team
info_at_fxtechstrategy.com
AUDUSD Extends Bearishness Sets Up For Further
Weakness With Eyes On 0.9865. AUDUSD Bearish
price extension saw AUDUSD closing lower for a
third consecutive week on Friday and paving the
way for additional weakness in the new week. This
development leaves the pair targeting the 0.9865
level representing its Oct 122011 low on
further bearishness with a violation of there
turning risk towards the 0.9752 level its Oct
102011 low. The pairs third week of decline is
coming on the back of continued downside weakness
triggered from the 1.0749 level in late Oct2011.
Its weekly RSI is bearish and pointing lower
suggesting further declines. On the other hand
AUDUSD will have to break and hold above the
1.0312 and the 1.0441 levels to reduce its
downside pressure and then aim at the 1.0569
level its Oct 31 high. A breach of here will
turn focus to the 1.0749 level its Oct 272011
high. All in all the pair remains weak and
vulnerable to the downside in the short term on
further declines. To read the full version of
this 7 model currency analysis click here FXT
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