Aussie Intraday Trading (2010-05-12 AUD analysis)

Stock markets have been fluctuating these few days with great up and down. It would be quite difficult to catch the movements, so we should change our trading instruments to something that is clearer and safer. Aussie seems to be one of these.

We could see that Aussie is sliding along the blue channel after the breaking of red channel. The green fibs gave a little support for AUD not to break 0.8939. However, given the pressure of the blue channel, it is going to force the price to break the fibs and the next support would probably at around 0.8895.



If the price breaks out upwards due to some sudden news, then the resistant would be at 0.9078. Although I do not have much experience in day-trading due to lack of time and lack of good system, I believe experienced traders would find it interesting to trade AUD given such unpredictable movements of global markets.