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AUDUSD broke below 1.0505 support

Discussion in 'Technical Analysis' started by ForexCycle.com, May 23, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    AUDUSD broke below 1.0505 support and reached as low as 1.0478, suggesting that the downtrend from 1.1011 has resumed. Further fall could be seen in next several days, and next target would be at 1.0300 area. Resistance remains at the downtrend line from 1.1011 to 1.0888, only break above the trend line resistance could indicate that the fall from 1.1011 is complete.


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