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• Rouble is losing positions again in pairing with USD and EUR [11/10/2011]
• NZD: New Zealand Dollar is descending [11/10/2011]
• AUD: sales of Australian Dollar do not subside [11/10/2011]
• JPY: Japanese Yen remains in the narrow trade range [11/10/2011]

AUD: Australian Dollar seeks for the level of 1.0225

At the Forex currency market the Australian Dollar rate continues ascending movement, in order to test the previous high at 1.0225.

Forex forecast: FORCE indicator is in the positive area for the pair AUD/USD, while narrowing of the spread with the signal line is being observed, thereby forming the divergence of the purchase. Stochastic Oscillator has reached overbought zone, indicating the final stage of growth in the current momentum. We expect the wave of lock in profit on Longs at the level of 1.0225.

Ichimiku indicator shows that upward trend is taking shape at the daily chart; the key sliding averages are in the bullish intersection and traded upward. Have losses level of support for the key slow indicator is at 1.0000.  

Forex recommendations: when the level of 1.0150 is exceeded there won’t be any risk of formation of “double top”. The path to the level of 1.0225 will be open.

 Feasible event scenario at Forex: the target of the movement will be the highs of the late December at 1.0225.

Statistics released yesterday gave a new impetus to the AUD which has not been exhausted today as yet. The latest economic data gives hope that economy in Australia will be able to recover fast from devastating flooding which became the largest over the last decades.

 

 

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