AUD/USD: technical analysis for October 9, 2013

Overview: 

AUD/USD: According to the previous events, the price has still been trapped between 0.9400 and 0.9420. 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 0.9310 with the first target at 0.9390, and the price will climb towards 0.9435. However, if the pair fails to break 0.9460 (resistance 8 – 9 for October 3, 2013), the market will indicate a bearish opportunity below 0.9460, then the level will really act as strong resistance, it wil be a good sign to sell below 0.9460 with the first target at 0.94 and it will call for a downtrend in order to continue bearish movement towards 0.9355.

Intraday technical levels:

Date and Time: 9/10/2013 09:44 

Pair: AUD/USD 

Projected High: 0.9582 

Breakout (Buy Stop): 0.9527 

Strong Resistance (Sell Limit): 0.9497 

Current Pivot: 0.9434 

Strong Support (Buy Limit): 0.9371 

Breakout (Sell Stop): 0.9346 

Projected Low: 0.9296