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  1. DAILY FORECAST FOR AUDUSD

    by
    FX-Forecaster.com
    , 05-13-2012 at 10:04 PM (The Daily Forecaster)
    [B]BIAS[/B]: Uncertainty remains… wait for breaks

    [B]Resistance[/B]:... 1.0035... 1.0057-77... 1.0095-15... 1.0143
    [B]Support[/B]:........ 1.0006... 0.9992........ 0.9974........ 0.9930-40

    [B]MAIN ANALYSIS[/B]: We have seen a break below the 1.0021 low, not by too much but there could still be risk of losses extending to the 0.9974-92 area. Momentum conditions are not strongly bearish at this stage so we should look at this area as a potential base for a recycling higher. However, I cannot rule out a direct recycling higher from current levels but we'll need a break above 1.0057-77 to confirm. Thus, either from 0.9974-92 or directly above 1.0080 would see further gains through 1.0095-15 and 1.0143 ...
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