Saturday, August 11, 2012

Aussie: Pending Short

Current Bullish momentum could carry the Aussie a little higher before the larger Bearish Trend takes over.
Furthermore, the highs in price since the June rally have failed to create higher highs in momentum(RSI), strengthening my Longterm Bearish Outlook.
Key Resistance to watch, 1.0628, 1.0671 & 1.0815














...Correlation to S&P500 Index
Likewise, a move slightly higher from where we are now is to be expected before the Larger Risk Off Environment takes over.
Key Resistance: 1,422 / 1,425






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