20 April 2011
AUD/USD: technical analysis
Previous forecasts confirmed - the price returned to growth and rose to the previously mentioned target within 1.0600/20 range. At the moment it's making further attempts to grow, trading is carried out at 1.0619/20 level. Indicators are turned up, suggesting further growth, most likely to 1.0630/50 level, wherefrom the price may commence another large scale correction. Pull back down may begin from the current levels too, which gives reasons to be very cautious now.
Analysis prepared by:
Arkady Nagiev
Forex4you analyst
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