Thursday, April 26, 2012

Forex pairs to Observe--4.25.2012--+Charts

Eur.Aud & Aud.Chf

Eur.Aud finished retracing on the daily and is currently heading back north. Looking on the 4H, we see this pair bounced off the upwards trend line and broke through resistance.  At the moment this pair is retracing and might find support around 1.2700-12750 area before it continues its move north. I will be looking for a bullish formation + a counter trend line break before I consider a long entry. The bulls are currently after 1.2891 with a fib target of 1.2981.  If support doesn’t hold, this pair will gravitate towards the upwards trend line. Aud.Chf shows the opposite picture with the bears firmly in charge. This pair is currently retracing towards resistance levels around 0.9450-0.9470 area, and if resistance holds, expects a further continuation towards the south. The bears are currently after 0.9337 with a fib target of 0.9300. 

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