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AUDUSD moved sideways in a trading range

Discussion in 'Technical Analysis' started by ForexCycle.com, Jan 25, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    AUDUSD moved sideways in a trading range between 0.9803 and 1.0076. Lengthier consolidation in the range is expected in a couple of days. Key support is at 0.9803, a breakdown below this level will indicate that the downtrend from 1.0255 has resumed, then deeper decline could be seen to 0.9600 area. Key resistance is at 1.0076, above this level will suggest that the fall from 1.0255 had completed at 0.9803 already, then the following upward movement could bring price to 1.0200 zone.

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