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FOREX: Technical analysis 11/19/12

19.11.2012

Market Review

AUD / USD

News background:

Negative news about the escalating of the conflict in the Middle East continue to support commodity prices and commodity assets, which in turn positively affects the Australian currency. Due to these events, the couple has a chance to continue its local growth.

Technical picture:

The pair continues to move in the price range of 1.0300-1.0455. Price is above the center line of the Bollinger and EMA 5 and 21.

LED Stoch. points to the possibility of suspension of local growth due to overbought. RSI provides a buy signal, crossing the line at 50%.

Trading recommendations. Buy a pair, if it consolidates above 1.0375 with a likely target 1.0450.

Technical analyst at Forex Bulygina Marina.

Analytical department of Grand Capital

Author: admin

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