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Forex: AUD/USD, consolidating below 1.0580 high

By FXstreet.com,  April 18, 2011, 03:05:00 AM EDT

FXstreet.com (Barcelona) - Australian Dollar retreat from 28-year high at 1.0580 on April 8/11, was contained last week at 1.0390, and the pair picked up through the week, to regain lost territory, reaching 1.0575 hitting on Friday, to consolidate on Monday, with support level at 1.0525/35.

On the upside, immediate resistance lies at the mentioned 1.0580 (April 8/11 highs), and above here, above here, the pair might find resistance at 1.0620/30 (Daily and weekly pivot point resistance) and 1.0660 (Daily pivot point R2).

On the downside, immediate support lies at 1.0525/35 (session lows), and below here, 1.0510 (weekly pivot/Apr 15 low) and 1.0455/65 (Apr 14 low).




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

Referenced Stocks:



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