Market Technical View is a blog that mostly concerns the technical analysis of different financial instruments like indices, commodities, stocks, ETFs and currencies.

All the posts are structured in 3 main chapters that can be found in Content, in the upper right-hand corner of the blog.

Market perspective. The technical approach consists of chart patterns and important support/resistance zones. The purpose of this section is to give directions of the price on short and medium term (a few days up to a few months).

Trading setups. The analysis posted here will provide trading scenarios based on different technical tools.

Romanian Market. This is a section dedicated to Romanian stocks and indices.

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Wednesday, April 18, 2012

AUDUSD long scenario. 2012.04.18

There has been a break and retest of T1 descending trend line that provides strength for the bulls. The 1.0320 area is a good support now as it was a previous local high and then a local low.

On a longer term, the 50% retracement level of the November-February up-swing provides a good support. The target on the mid-term is set in the 1.0800 area.

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