TECHNICAL ANALYSIS OF AUDUSD 02/11/11
AUD / USD has faced resistance from 1.0052 to overcome the first of momentum. Another fall is still likely for the moment and a break of 0.9663 will target a test of 0.9387. However, the break of 1.0086 would indicate the completion of the decline from 1.0752. In this case, the bias will be reversed intraday upward to a retest on the resistance of 1.0752.
The current development suggests that the decline from the maximum of the medium term to 1.1079 is extending further with the prospect of achieving 100% projection of 1.1079 to 0.9387 to 1.0752, or 0.9060. However, the structure in three waves of the fall from 1.1079 to 0.9387 was in line with the vision del'intera plot from 1.1079 which might evolve as a corrective by nature. The long-term forecast of AUD / USD remains bullish. Moreover, one can expect strong support within the zone 0.8066 / 0.9404 in particular about 50% retracement of 0.6008 to 1.1079 at 0.8544 to contain the fall and finish the consolidation.
Related Articles:
Earn Money with Forex in less than 5 minutes a day
English-Italian, with a simple online translator, and subscribe to FREE Forex Signals 
A nice little article, I agree, and I congratulate all'articolista who I mean.