02nd Aug - AUD/USD Breaks Long Term 38.2% Support
02 August 2013
WEEKLY CHART:
The multi-year 38.2% retracement has now been broken, suggesting that a more prolonged pullback is in process. However, also keep in mind the bear channel base projection running through 0.8865 currently. Support is quite possible here.
DAILY CHART:
After a small rally to first resistance from the 0.9324 11-Jun low weakness has resumed. On this chart note the next interesting bear projection is at 0.8535, which coincides with the 50% level on the Weekly chart.
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01st Aug - Cotton Holds Above Key Support For Now