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AUDUSD bounced strongly from 0.9321

Discussion in 'Technical Analysis' started by ForexCycle.com, Jun 18, 2014.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    AUDUSD bounced strongly from 0.9321, suggesting that the pair remains in uptrend from 0.9208, the fall from 0.9437 would possibly be consolidation of the uptrend. Further rise to test 0.9437 resistance is possible, a break above this level will signal resumption of the uptrend, then next target would be at 0.9500 area. Support is now at 0.9321, only break below this level will confirm that the uptrend had completed at 0.9437 already,. Then deeper decline to 0.9250 area could be seen.

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