Overview:В
- The AUD/USD pair had fallen from the level of 0.9010 has extended further to as low as 0.8823 to form double bottom since December 18, 2012, and it closed at the 0.8890 level yesterday. Consequently, it should take in account two important observations: the price has formed a strong support around the double bottom in H4 chart at the 0.8823 level, equally important the price has still above 00% of Fibonacci retracement levels and it have to notice this ratio is applicable with the double bottom. As a result it is probably that the market will start showing the signs of bullish market again in order to indicate a bullish opportunity from the level of 0.8820 with a first target 0.8900 then it will be continued towards minor resistance 0.8970. Notwithstanding, the bulls will have been forcing to pullback at the level of this area (0.8970 / 0.9010), therefore this level will be formed a strong resistance at the 0.9000 level in order to indicate a bearish opportunity below the new resistance on January 9, 2013.
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