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Forex Technical Analysis AUD/USD 2012-05-09

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Last week the Australian dollar fell under pressure against the US counterpart – pair AUD/USD fell from 1.0470 (38.2% Fibonacci extension level for the growth wave December 2011 – February 2012) and reached in the morning the lowest level in 2012 – 1.0052. Technical indicators are supporting the ongoing decline, although some of them have already reached or are close to the oversold areas. However the pair may find support at around the parity, at 0.9933 and 0.9860. Strong resistance levels on the other hand are settled at 1.0151 and 1.0230.



 

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