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Posted: Mon Dec 16, 2013 2:31 am
Australian still stands off Euro and Pound
EUR/USD
Monthly chart: Area of 1.3859 will be repeatedly tested (upper Bollinger Band), further to which bulls either start attacking 1.4260 or will roll to the medium band (1.3121, marked by red arrow).
Weekly chart: here, 1.4260 level seems like a verdict. The question is only in the direction of movement – whether it will be direct or through rollback to the medium band. So far, a more located support – in this case 1.3442 – does not allow to rely upon a deep movement to 1.3121.
Daily chart: an even closer level of potential demand is 1.3601. Most likely that 1.3859 will be broken exactly after touching this very area.
Learn more
EUR/USD
Monthly chart: Area of 1.3859 will be repeatedly tested (upper Bollinger Band), further to which bulls either start attacking 1.4260 or will roll to the medium band (1.3121, marked by red arrow).
Weekly chart: here, 1.4260 level seems like a verdict. The question is only in the direction of movement – whether it will be direct or through rollback to the medium band. So far, a more located support – in this case 1.3442 – does not allow to rely upon a deep movement to 1.3121.
Daily chart: an even closer level of potential demand is 1.3601. Most likely that 1.3859 will be broken exactly after touching this very area.
Learn more