Thu, Aug 20 2009, 07:41 GMT
http://www.fxstreet.com
FXstreet.com (Barcelona) - Australian Dollar declined on Wednesday from 0.8300 to 0.8175 low and got back to levels above 0.8300 during Asian session to put 0.8315 resistance area under pressure on early European session.
According to Liviu Flesar, technical analyst at InnerFX, the Aussie trades now at an area where bears could show up: "The whole .8315-.8355 region is expected to provide a selling point but it seem to be a hazardous scenario as the short term charts show signs of recovery especially due to yesterday’s reversal on the .8175 support. A continuation of current recovery may bring the top side of .8450/75 on focus."
Resistance levels, according to Flesar, lie at 0.8315 and above here, 0.8355 and 0.8400. On the downside, initial support lies at 0.8250,and below here, 0.8200 and 0.8150/75.
AUD/USD (Aug 21 at 05:06 GMT)
0.8221/31 (-1.08%)
H 0.8327 L 0.8214
| S3 | S2 | S1 | R1 | R2 | R3 |
| 0.8171 | 0.8192 | 0.8212 | 0.8230 | 0.8251 | 0.8272 |
| [?]Trend Index | [?]OB/OS Index |
| Neutral | Neutral |
| Data updated on Aug 21 at 05:05 (15-minute timeframe) | |
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