Date: 23.10.2012 Time: 18:38 Rate: 1.0257
4 Hour chart
AUD/USD forecast – The price has descended to the 1.0250 price level, which is a 61.8%correction of the uptrend marked by black broken line. Now it looks like it stopped and it will be possible to see a correction in size of between a third and two thirds by Fibonacci of the downtrend started on the 1.0411 price level. On the other hand, breaking the 1.0250 price level will probably lead the price towards the closest support on the 1.0200 price level.
Current review for today
AUD/USD TECHNICAL ANALYSIS – At those moments the price is correcting 61.8% of the last downtrend which started on the 1.0411 price level, after stopping on the 1.0250 price level which is a 61.8% correction of the uptrend marked with black broken line. Stoppage of the price at the current area and its come back under the 1.0250 price level will probably lead the price downwards to the next support on the 1.0200 price level. On the other hand, breaching of the 1.0411 price level will probably continue the uptrend with a target on the 1.0474 resistance level.
You can see the chart below: