Overview :
- The resistance of AUD/USD pair is set at the level of 0.7735 and the support is set at 0.7628 . So, according to the previous events, the AUD/USD pair is going to move between the resistance and support. History is likely to probably repeat itself at this level again. Therefore, we expect a range about 100 pips on April 10, 2015. If the trend fails to close above the level of 0.7730, it is going ti be a good opportunity to sell below 0.7730 with the first target at 0.7650, then it is likely to continue straight towards 0.7630. Nevertheless, the stop loss should always be taken in account because it should never exceed your maximum exposure amounts. Thus, the best location to set your stop loss should be placed above the level of 0.7750.
Notes :
- The value of 50% Fibonacci retracement levels is: 0.7735.
- The major support will set at the level of 0.7740.
- The major resistance will set at the level of 0.7625.
- The Risk of 70 pips must make a profit of 105 pips.
- If the trend is of an upside character, then the strength of the currency will be defined as following: AUDis in uptrend and USD is in downtrend.
The material has been provided by InstaForex Company - www.instaforex.com
