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Real-Forex daily review - AUD/USD - 04.07.2012

Discussion in 'Market Predictions and Reports' started by Real-Forex.com, Jul 4, 2012.

  1. Real-Forex.com

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    Real-Forex daily review - AUD/USD - 04.07.2012


    Date: 03.07.2012 Time: 17:22 Rate: 1.0282
    4 Hour chart


    Last Review
    The price did break the 1.0075 price level and reached the target of the last review on the 1.224 price level and even passed it. At this point the price is checking whether the resistance level can be used as a support, while breaching of the 1.0278 price level will continue the current uptrend. On the other hand, breaking of the 1.0224 price level will indicate that it is possible that we will see a correcting move towards the 1.0171 price level at first stage, this is a 38.2% Fibonacci correction level of the move upwards )blue broken line).

    Current review for today
    The price breached the 1.0278 price level and currently going back to check whether this level can switch its role from a resistance to a support. In case it will, the first target will be the 1.0326 price level. On the other hand, breaking of the 1.0224 price level will probably lead the price to a correction towards the 1.0170 price level at first stage, this is a 38.2% Fibonacci correction level of the last move upwards (blue broken line)

    You can see the chart below:
    4.


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