Monday, April 28, 2014

AUDUSD extends correction amid bearish momentum; .9200 area houses cluster of supports; near term sell

Monday’s bounce was capped at the falling 10 day ma at .9303. Bearish momentum remains strong but it is not oversold yet. The next support levels are .9205, .9190 and .9165/.9155 (50/200 day MAs).
.9315 should cap near term.
Trade idea:
Sell: around .9260/.9280
Stop above .9315

Target at .9200/.9140

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