Wednesday, October 17, 2012

AUDUSD Stalling at 200MA

After a break and close above previous horizontal resistance area, now the price is stalling at 200MA. This area coincides with another resistance area. 

This area is support-turned-resistance and has pushed the pair south once. Above this comes the channel's upper trendline. AUDUSD H4 Trade

My strategy is to go long on a pullback & bounce from previous resistance area around 1.0280. 

I expect that area to become resistance-turned-support. 100MA also comes around the same area.

No comments:

Post a Comment

Related Post