AUDUSD Daily Outlook for 19th December, 2013 (Thursday)

AUDUSD Daily Outlook for 19th December, 2013 (Thursday)

Daily Chart

• Price has closed at the 0.8855 which hs broken support - only slightly
• Because the aussie did not break the support with conviction, We would expect the market to retrace and retest the resistance before heading more south

Hourly Chart

• On the daily, the aussie closed at major support, but not managed to break it, 
• Stochastic is oversold with a small divergence 
• We broke through weekly pivot S1

Outlook Trade opportunity

We have a Weekly S1 (which is broken) and yesterdays low which is a major support area, - Because of this we are in a very tight range , i will not be trading this pair for now until market tells us what to do.

Risk Level- no trade

Tips -

Always take note of any economical news event on our provided calender below