AUS/USD - Confirming resistance and pull back due to oil @ resistance !

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Comment by dentist 007 on March 10, 2012 at 7:41pm

ok...u got it

there is a cluster of trendlines

that is the supp area

4 hour data

30 pips box size by 3 reversal

there is a downtrend

but we watch for supp 

Comment by dentist 007 on March 10, 2012 at 7:39pm

Comment by dentist 007 on March 10, 2012 at 7:34pm

ws..looked hard at it

there is a big supp zone at 1.05

that will need to be taken out take on it

no bears in until thyat area is taken out

thats it........ 

Comment by dentist 007 on March 10, 2012 at 7:24pm

aussie is a dog on the 4 hour

that is a good chart you posted

supp must come in soon,otherwise down we go 

Comment by Aadil (site owner) on March 10, 2012 at 7:14pm

Tuesday fed meeting .......recent strong data and higher oil = inflation down the road  = higher interest rates in Q4  2012 , if not Q3 !! .........US dollar rally !! 

Comment by dentist 007 on March 10, 2012 at 7:13pm

nice chart u got there

there is a second break downwards....that could turn nasty for the aussie that breakdown for supp to come in

if not...then dollar strength


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