Overview:
AUD/USD: According to the previous events, the price has still been trapped between 0.9090 and 0.9020. Therefore, the first step is to wait for a period of tight sideways market before breakouts. Then, probably, the market is going to start showing bearish signs. In other words, it will be a good sign to sell below 0.9200 (it should be noted at the level of 0.92 is formed double top) with the first target at 0.90 and the price will climb towards 0.8900. However, if the pair fails to break 0.8900, the market will indicate a bearish opportunity above 0.8900, then the level will really act as a strong support. It will be a good sign to buy above 0.8900 with the first target at 0.9014 and it will call for an uptrend in order to continue bullish movement towards 0.9085.
Intraday technical levels:
Date & Time: 21/08/2013 14:04
Pair: AUD/USD
R3: 0.9141
R2: 0.9107
R1: 0.9068
PP: 0.9034
S1: 0.8995
S2: 0.8961
S3: 0.8922
