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Tuesday, 6 May 2014

AUD/USD H4

General Overview for 06/05/2014:
The correction in this pair continues in shape of a Double Three complex cycle. The invalidation level is at 0.9137. Please notice on the next chart, that the market is highly geometrical and full of proportions, both from arithmetrical and geometrical ( pink and blue rectangles). This is another support that the overall cycyle is just a correction. Breakout and close on Daily TF above the golden channel is needed to confirm correction is over.



Support/Resistance:
0.9459 - Swing High
0.9450 - WR3
0.9383 - WR2
0.9336 - WR1
0.9316 - Technical Resistance
0.9286 - Weekly Pivot
0.9222 - WS1
0.9205 - Technical Support
0.9156 - WS2
0.9137 - Invalidation Level

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