Wednesday, December 7, 2011

AUD/USD: Selling against the 61.8% Fibonacci level

The rationale here is pretty clear. There is a pretty strong Resistance cluster at the 61.8% Fib at 1.0340 and the 200-Day MA at 1.0412.

Tentative selling here with a scope of the 23.4% Fib around 0.99.

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