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AUDUSD Weekly Technical Analysis | December 13, 2014
AUDUSD continued its down rally last week also. This pair is towards its psyological level at 0.8000. This pair is on fully downtrend. So traders should look for sell entry in this pair. From retracement we can look for bearish confirmation in shorter time frame, then we can take sell entry. Near term selling zone lies on 0.8350-0.8370 area. For sell entry, target will be 0.8020 area. If this level is broken, then we can sell more down rally for long term.
Weekly Pivot, Support and Resistance
Resistance Two (R2): 0.8621
Resistance One (R1): 0.8473
Pivot Point: 0.8394
Support One (S1): 0.8246
Support Two (S2): 0.8167
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