Forexpros Daily Analysis - 12/04/2011

ForexPros Daily Analysis April 12, 2011


Aud/Usd reversed quite sharply in recent sessions from its highs as commodities weakened; a move that appears to be a first small impulse on the way down. As such, temporary highs should be in place with at least three wave downward structure underway. Notice that pair also broke below rising trend line which is another important evidence of a temporary bearish price action, which however, still could be only a correction within a larger trend. Pair seems to be headed towards wave 4 support shown around 1.0300.

---

Forex Trading analysis written by Gregor Horvat for Forexpros.

---

Get the most updated Forex News !

---

Disclaimer:
Trading Futures and Options on Futures and Cash Forex
transactions involves substantial risk of loss and may not be suitable for
all investors. You should carefully consider whether trading is suitable for
you in light of your circumstances, knowledge, and financial resources. You
may lose all or more of your initial investment. Opinions, market data, and
recommendations are subject to change at any time.