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AUDUSD might be forming a short term cycle top at 0.8667 level

Discussion in 'Technical Analysis' started by ForexCycle.com, Sep 10, 2009.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    AUDUSD might be forming a short term cycle top at 0.8667 level on 4-hour chart, key support is located at 0.8528, a break below this level will confirm the cycle top, then consolidation in a range between 0.8450 and 0.8667 could be seen to follow. However, a break above 0.8667 will indicate that the uptrend from 0.0.8239 has resumed and the next target would be at 0.8750-0.8800 area.

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