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AUDUSD drops sharply to 0.8731

Discussion in 'Technical Analysis' started by ForexCycle.com, May 16, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    AUDUSD drops sharply to as low as 0.8731 and is testing 0.8715 key support, a breakdown below this level will indicate that the downtrend from 0.9381 has resumed, then deeper decline could be seen to 0.8600 area. Initial resistance is now at 0.8838, only rise above this level could trigger another rise to 92.00 area.

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