AUD/USD: technical analysis for October 11, 2013

Overview: 

AUD/USD: According to the previous events, the price has still been trapped between 0.9460 and 0.9425. Therefore, the first step is to wait for a period of tight sideways market before breakouts. Then, probably, the market is going to start showing bullish signs. In other words, it will be a good sign to buy above 0.9390 with the first target at 0.9450 and the price will climb towards 0.9505. However, if the pair fails to break 0.9505, the market will indicate a bearish opportunity below 0.9510, then the level will really act as strong resistance, it wil be a good sign to sell below 0.9510 with the first target at 0.9475 and it will call for a downtrend in order to continue bearish movement towards 0.9425.

Intraday technical levels:

Date & Time: 11/10/2013 01:05

Pair: AUD/USD 

Projected High: 0.9636 

Breakout (Buy Stop): 0.9581 

Strong Resistance (Sell Limit): 0.9551 

Current Pivot: 0.9430 

Strong Support (Buy Limit): 0.9308 

Breakout (Sell Stop): 0.9283 

Projected Low: 0.9233