AUD vs USD Long 9-11-13

11 thg 9, 2013

Looking at the AUD vs USD on the daily time frame we can see that price has been in a down trend from 1.05819 to the low of .88428. From there I have put in fib retracement levels and price has since moved up through the 23.6 retracement level and we are currently within a resistance zone which is approximately 43 pips wide. I'm expecting this level to be broken taking us out of this recent sideways range and price should push upwards to the 38.2 and possibly the 50% retracement level. If price doesn't break the resistance zone then we'll continue in the range a little longer. Have a great trading day and God bless!