1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

AUDUSD broke below the rising trend line

Discussion in 'Technical Analysis' started by ForexCycle.com, Jan 12, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    AUDUSD broke below the rising trend line on 4-hour chart, suggesting that a short term cycle top is being formed on 4-hour chart. Range trading between 0.9123 and 0.9325 is expected. As long as 0.9123 support holds, we’d expect uptrend from 0.8734 to continue and one more rise towards 0.9404 (Nov 16, 2009 high) is still possible. However, a break below 0.9123 will indicate that the rise from 0.8734 has completed, then deeper decline could be seen to 0.9000 or even 0.8850.


    Daily Forex Signals

Share This Page