The AUDUSD daily chart has been very uncertain in the last few days and weeks. Price has not been moving cleanly one way or another and instead just ranging.
Price is now stuck in a tight range, with key support and resistance levels both above and below. For price to make a clear move in either direction, price is going to have to make a clear break out of one of these levels.
The chart below shows the near term support and resistance levels. The best play for this pair could be to wait for price to break out either way, and reveal it’s hand as to which way it wants to move.
AUDUSD DAILY CHART – 23 NOV 2012
Leave a Reply