AUD/USD - Australian Dollar US Dollar, European Session - 02/09/08

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AUD/USD - Australian Dollar US Dollar, European Session - 02/09/08

Published 09/02/2008 - 2:08 a.m. EST

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0,8499. AUD USD is in an downtrend directed by 4H exponential moving averages. AUD USD is in a consolidation after the last bearish movement. The volatility is low. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on AUD USD. The price should find a support above 0,8450. The consolidation should continue. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances: 0,8550 - 0,8590
Supports: 0,8480 - 0,8450

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