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 Technical Strategist Plus www.FXTechstrategy.com The Ultimate Technical Research On Forex 2 This report is prepared solely for information and data purposes. Opinions estimates and projections contained herein are those of FXTechstrategy.com own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty express or implied is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which FXTechstrategy.com incurs any responsibility. FXTstrategy.com does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report. Click here for full disclaimer
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