Today, on Dec 13th, the Australian Dollar declined against the US Dollar. AUDUSD is currently being traded around 0,9844, losing 0,11% on average.
Currency analysts note that the currency pair has already managed to find its support level at 0,9753 which corresponds to Wednesday’s low. It is also clear that the closest resistance level is 0.9897, Friday’s high. In the meantime AUD has gained in value versus EUR but has declined versus JPY. It means that EUR loses its leading positions, giving way to JPY and AUD.
Having lost 0,2% of its value AUDUSD reached 1,3398. AUDJPY reached 82,62 while losing 0,12% on average.
Movement scenarios: markup. H4-H1. AUDUSD. Dec 13th 2010.
1.Upward scenario
0.9832, support, is critical for this variant of movement. A breakout of it cancels the scenario.
Resistance levels:
Volatility indicator “Saks Channel”: 0.9890 - 0.9965 - 1.0040.
Local highs: 0.9964 - 1.0002. Buy target grid of the basic indicator: 0.9885 - 0.9918 - 0.9971 - 1.0004 - 1.0057.
2.Flat scenario (Flat-zone):
Support level: 0.9832.
Resistance level: 0.9896.
For the flattish movement scenario these levels are critical. If there is flat widening, the levels may see false breakouts. However, the deviation shouldn’t exceed 161.8% - 0.9936. Therefore, in this case the price cannot 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 once violated.
3.Downward scenario
0.9896, resistance, is critical for this variant of movement. A breakout of it cancels the scenario.
Resistance levels:
Volatility indicator “Saks Channel”: 0.9815 - 0.9740 - 0.9665.
Local lows: 0.9775 - 0.9752 - 0.9739.. Sell target grid of the basic indicator: 0.9816 - 0.9792 - 0.9752 - 0.9728 - 0.9688 - 0.9664.
Provided by the Department of mid-term trading and GTMT, Masterforex-V Academy.
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