AUD starts to weaken

01-02-2012

AUD/JPY

The pair met a strong resistance point which caused by 3 triggers.

1.    A long term’s negative trend line which appears at 82.82.
2.    A mid term’s Resistance level at the same point of 82.82
3.    A template of Head & Shoulders has been formed on the chart.
All these signs indicate a change in direction; therefore expect further declines in AUD.

Resistance & Support (daily)

S3	S2	S1	Pivot Point	R1	R2	R3
79.7	80.1	80.6	81.15	81.5	82	82.8

AUD/NZD

This pair we have reviewed some time ago in a context of declines. Now the pair shows us that he is ready for more declines. Indeed, yesterday Aussie dropped another 70 pips.

Resistance & Support (daily)

S3	S2	S1	Pivot Point	R1	R2	R3
1.2775	1.2810	1.284	1.2870	1.29	1.2935	1.299

AUD/USD

Aussie reached a level of 1.07 yesterday, and has been pushed back down by its resistance line. Since the pair did not manage to break the Resistance, it seems that the pair is going down. Note that this pair has great influence on other Australian dollar pairings.

Resistance & Support (daily)

S3	S2	S1	Pivot Point	R1	R2	R3
1.0525	1.058	1.0625	1.066	1.07	1.0725	1.075

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