AUD/USD Chart (31 Oct 12)

Planning (9.30am)

AUD/USD -- 4 hours Chart




- Blue lines indicate potential reversal zones... (reversal zones are determined based on a relatively larger reversal move after hitting the area) .... A small retracement is not a reversal.

- These lines usually form as a support/resistance..

- Currency has been trending up gradually over the past few sessions..


AUD/USD -- 1 hour chart




- Red dotted lines are the 1 hour reversal area...

- Strong resistance is at the 1.04 area... with the main trend going upwards though it seems like ranging.... Its too early to make a trade judgement now so I will see how the price reacts on the areas I drawn before deciding