aud/usd trend, page-3

Hi havene.
First of all I must say that I am new to forex, still on a demo account.

I think you have to ask yourself how low can the DOW go, not the AUD. The AUD follows the DOW very closely, below I have posted a hourly chart as an example. The chart comes from IG Markets so unfortunately no volume shown. As bbloff mentioned the DOW reacts to any media reports, pos' or neg', so keep an eye on them.

I have my support levels (not shown on this chart) for the DOW at 11,510 (which it has just bounced off); if this fails then my next support is at 10,680. If it falls this low, using the same percentage drop to the AUD, then expect it the reach 92-93 cents.

The top line on the chart is the DOW, the bottom is the AUD, Spot the difference.