Aussie Remains In Bearish Bias, Pounds Significantly Weakened
23 February 2012 10:52:36 WIB
AUD/USD
AUD/USD remains in bearish bias. Pullback possibly will occur to the trendline area or resistance at 1.0635. The bias will remain bearish as long as the resistance intact. The bias will turn to bullish only if the resistance at 1.0690 breaks. In that case, Aussie probably will sterngthen up to 1.0748.
Also, watch the support at 1.0595. A break of that support will amplify the bearish bias and Aussie likely will weaken to the range 1.0559 – 1.0518.
GBP/USD
Poundsterling has weakened significantly against USD yesterday and hit the level of 1.5647 which becomes initial support. A break of that support will amplify the bearish pressure so that poundsterling likely will keep weaken to the range 1.5608 – 1.5564.
Meanwhile, beware of the possibility for a pullback to the resistance area at 1.5729. However, the bias will remain bearish as long as the resistance intact. Therefore, that level can be considered as reference to look for bearish signals.
