Comments on: AUD choppy after China GDP comes in as expected

By: Sean Lee

Sean Lee — Thu, 18 Oct 2012 03:52:34 +0000

Rahul, 10320 was the pivotal lvl on way down so it became resistance and now shud be suppt again. I’ve picked 10440 simply because the mkt is still short so we might see overextension, but that’s just a guess on my part

By: Jones

Jones — Thu, 18 Oct 2012 03:34:34 +0000

Hi Sean, my AUD chart is telling me around 1.0392 has strong supplies. My other indicators are telling me heavy supplies are involved and the tick volume is high with heavy resistance. Fingers crossed, my TP is the previous supply level at 1.03220.

By: Nachiket

Nachiket — Thu, 18 Oct 2012 02:30:32 +0000

just like it did not fill in the bids at 1.0150 it will not fill the offers at 1.0410 is my wild guess

By: Nachiket

Nachiket — Thu, 18 Oct 2012 02:16:38 +0000

also they have to keep an eye on inflation as well. they had a hard time bringing it down to sub 3% from 8%. easing will waste all their efforts. USD rally starts today

By: Nachiket

Nachiket — Thu, 18 Oct 2012 02:15:37 +0000

Yes the fact that it did not cross 1.0400 after such a strong data means the bull run is probably over and we test 1.0100. I think no easing as well now which the markets were speculating. china and india cannot ease that much.

By: Rahul

Rahul — Thu, 18 Oct 2012 02:09:30 +0000

hi sean,
i assume you chose 1.0320 because its the 38.2 % retracement of this move up and 1.0440 as its the 61.8% retracement of the move from 1.0620 to the recent bottom.
So am i right in understanding that you believe a greater probability in a reversal at that level (61.8)?…but why not this current level..the 50%..this might seem an irrelevent question to ur experienced mind..but u have for some reason understood that the market has more room to move higher and I cannot grasp why!!!…thank you