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Chart of the Day – AUD/USD 19/05/2014

Topic: Chart of the Day – AUD/USD 19/05/2014

The daily chart shows quite benign amount of mercantilism for the inhabitant dollar, with a series of neutral candlesticks are denote and momentum indicators area unit during a fairly sedate position. In March an outsized base pattern was completed higher than $0.9140 associated suggests that there's an current outlook of inhabitant dollar strength. but the intraday chart shows however vital the pivot level around $0.9320 is taking part in. For the past six weeks the most important support, that became resistance and afterwards support once more, has fashioned around $0.9320. Despite the recent rally for the dollar against the most important currencies, the pivot, that is currently support at $0.9320 has remained intact.
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