Today (Dec16th) at the Asian session the British Pound strengthened its positions against the US Dollar.
AUDUSD is being traded around 0.9865 gaining 0,3% on average.
Experts suppose that the currency pair has already found its support at 0.9850, last Wednesday’s low. The resistance level is believed to be Tuesday’s high at 0.9875.
It should also be noted that the Australian Dollar (AUD) has gained against JPY and EUR. GBPJPY reached 131,02 (gaining 0,6%) while EURGBP came up to 0.8496 (losing 0,04%).
Movement scenarios: markup. Daily-H1. AUDUSD. Dec 16th 2010.
1. Upward scenario (CP1-CP2-CP3)
Support level: 0.9840 is critical for this variant of movement. The scenario will be canceled if the level is overcome.
Resistance levels:
Volatility indicator “Saks Channel”: 0.9868 - 0.9934 - 1.0000.
Local highs: 0.9954 - 1.0029. Buy target grid of the basic indicator: 0.9961 - 0.9989 - 1.0035.
2. Flat scenario (Flat-zone):
Support level: 0.9832
Resistance level: 1.0027.
For the flat scenario these levels are critical. If there is some widening of the flat, the levels may see false breakouts. However, the deviation mustn’t exceed 161.8% - 0.9711. Thereby, in this case the price mustn’t come out of the buy-zone or sell-zone. The 161.8% support level inside the buy-zone and the 161.8% resistance level inside the sell-zone are critical for this scenario and cancel it if they are violated.
3. Downward scenario (CP1-CP2-CP3)
Resistance level: 0.9896 is critical for this variant of movement. The scenario will be canceled if the level is overcome.
Support levels:
Volatility indicator “Saks Channel”: 0.9802 - 0.9736.
Local lows: 0.9810 - 0.9752. Sell target grid of the basic indicator: 0.9832 - 0.9711.
Provided by the Department of mid-term trading and GTMT, Masterforex-V Academy.
Source: Market Leader
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