Intraday Market Thoughts

Archived IMT (2010.03.24)

by Ashraf Laidi
Mar 24, 2010 17:06

MORE AUSSIE LOSSES seen ahead as AUDUSD is unable to break above its 17-month trend line resistance of 0.9280. The pair sets up for further selling towards 0.8990 (from current 0.9090), followed by 0.8870 next week on a combination of escalating USD strength and AUD weakness potentially occurring from the RBA signalling a pause in its tightening cycle. Todays 100-pip downmove means immediate resistance falls to 0.9150s. AUDNZD extends losses towards 1week trend line support of 1.2930 and is vulnerable to 1.2840.


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