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AUDUSD is facing trend line resistance

Discussion in 'Technical Analysis' started by ForexCycle.com, Feb 13, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    AUDUSD is facing the resistance of the downward trend line on 4-hour chart. As long as the trend line resistance holds, the rise from 1.0226 could be treated as consolidation of the downtrend, and another fall to 1.0200 is still possible. However, a clear break above the trend line resistance will indicate that the downtrend from 1.0597 has completed at 1.0226 already, then the following upward movement could bring price to 1.0700 zone.


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