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FOREX: Technical analysis 09/07/12

07.09.2012

Market Review

AUD/USD

News background:

Pair growth may be limited if the data from the U.S. will be good. But if the statistics on employment in the non-agricultural sector of the U.S. came out weak, it will push the pair up, despite the weak economic data out of Australia.

Technical picture:

From a technical point of view, a pair rose sharply against the decision of the ECB to redeem short-term bonds. Pair is located at the upper boundary of the Bollinger Bands and above MA 5 and MA 21. It is possible that before the publication of data from the U.S. couple Adjust down.

Oscillator Stoch. is in overbought zone. The RSI indicates a weakening of the uptrend.

Trading recommendations.

Buy a couple on the bounce down, if the data from the United States will be worse than expected from the local to 1.0376.

Technical analyst at Forex Bulygina Marina.

Analytical department of Grand Capital

Author: admin

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