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AUDUSD continues its downward movement

Discussion in 'Technical Analysis' started by ForexCycle.com, Jan 11, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    AUDUSD continues its downward movement from 1.0255 and the fall extended to as low as 0.9803 level. Deeper decline is still possible in a couple of days and next target would be at 0.9700-0.9750 area. Initial resistance is at 0.9890 and key resistance is at 0.9991, only break above these level could indicate that the downtrend from 1.0255 is complete.

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