Daily Forecast - 09 April 2014
AUDUSD
AUDUSD unexpectedly beat 9335/40 to reach 9386. We are severely overbought & this could be the last gasp higher as we hit longer term Fibonacci resistance at 9395/9405. It would be surprising to see the pair continue higher this week. We would expect to see profit taking set in around the 9400 area but shorts need stops above 9430.
Immediate support is 9340/35 but below here is more negative & could target 9310/05. Below 9295 then adds pressure for 9272/67.
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