Technical analysis of AUD/USD for February 19, 2014

Trading recommendations:

• According to the previous events, the AUD/USD pair has still been moving between 0.9061 and 0.8990. As it is known, history will probably repeat itself at this level again. Equally important, the resistance has set at the price of 0.9113 and the support at the 0.8990 price. Accordingly, if the trend fails to close below the level of 0.8990, then it will be a good opportunity to buy above 0.8990 with the first target at 0.9066, then it will be continued straight towards 0.9113. Notwithstanding, the stop loss should always in account because it should never exceed your maximum exposure amounts. Consequently, the best location to set your stop loss should be placed below the level of 0.8953.

Intraday technical levels:

• R3: 0.9146
• R2: 0.9113
• R1: 0.9068
• PP: 0.9035
• S1: 0.8990
• S2: 0.8957
• S3: 0.8912

Notes:

• Please check out the market volatility before investing, because the sight price may have already been reached and scenarios might have become invalidated.
• Key level is at 0.8990.

The material has been provided by InstaForex Company – www.instaforex.com