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AUDUSD moved sideways without trend

Discussion in 'Technical Analysis' started by ForexCycle.com, Feb 25, 2014.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    AUDUSD moved sideways without trend in a range between 0.8906 and 0.9080 for several days. As long as 0.8906 support holds, the price action in the range could be treated as consolidation of the uptrend from 0.8660, another rise towards 0.9400 could be expected after consolidation. On the downside, a breakdown below 0.8906 support will signal completion of the uptrend from 0.8660, then the following downward movement could bring price back to 0.8500 zone.

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