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AUDUSD might be forming a cycle top at 0.8550

Discussion in 'Technical Analysis' started by ForexCycle.com, May 31, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    AUDUSD might be forming a cycle top at 0.8550 level on 4-hour chart. Key support is now at 0.8383, a break below this level will confirm the cycle top and indicate that the bounce from 0.8066 has completed, then another fall to 0.8250 area could be seen. Resistance is at 0.8550, only rise above this level could signal resumption of uptrend, then next target would be at 0.8650 area.

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