AUDUSD Testing thebottom of its range

03 May
2012
by in Uncategorized

 

 

The AUDUSD moved steadily lower in North American trading.  Heading into the close the pair is testing the top of the 1.0250/25 resistance zone.  This level has held the pair for the last month and may once again.  In Asian trading the AUD Statement of Monetary Policy could dictate if the 1.0250 level holds.  Resistance is strong at 1.0350.  If the 1.0250 level fails we could see a rundown to 1.0040 in the coming sessions.

Support                 1.0250/25

Resistance            1.0350