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AUDUSD broke below price channel

Discussion in 'Technical Analysis' started by ForexCycle.com, Oct 20, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    AUDUSD broke below the lower border of the rising price channel on 4-hour chart and reached as low as 0.9661 level, suggesting that the uptrend from 0.8771 has completed at 0.9998 already. Another fall to 0.9500 area is expected in next several days. Resistance is now at 0.9998, only break above this level could trigger another rise to 1.0100-1.0200 area.

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