FX.co ★ Technical analysis of AUD/USD for August 28, 2014

Trading recommendations:

• According to the previous events, the AUD/USD pair will probably move between the prices of 0.9385 and 0.9320. Equally important, the resistance has set at the price of 0.9371 and the support at the 0.9300 price. Also, it should be noted that the current price is at 0.9371 now. Accordingly, if the trend fails to close above the level of 0.9371, then it will be a good opportunity to sell below 0.9371 with the first target at 0.9340, then it will be continued bearish towards 0.9300. So, we expect a range of 71 pips in the coming hours. Notwithstanding, the stop loss should be always taken into account because it should never exceed your maximum exposure amounts. Consequently, the best location to set your stop loss should be placed above the resistance at the level of 0.9395 .

Intraday technical levels:

Date and Time:28/08/2014 13:19

Pair:AUD/USD

• R3: 0.9420
• R2: 0.9397
• R1: 0.9378
• PP: 0.9355
• S1: 0.9336
• S2: 0.9313
• S3: 0.9294