AUDUSD Mid week update 12th March, 2014 - Have we found support?

AUDUSD Mid week update 12th March, 14

Daily Chart

Hourly Chart

• On the H4 chart we have a 200ma with current candle having a rejection
• Ichimoku clouds - H4 we have broken below, however notice the clouds being very thin, which is to say that the S/R of the clouds are weak
• At the same area, the second view of the H4 chart we have a 88.6 and weekly S1 pivot confluence
• We are trading very close to support on the H4

Outlook Trade opportunity

I will be happy to take Long position trade perhaps after a H4 candle confirmation candle

Risk Level Medium

Tips -

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