1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

AUDUSD moves sideways in a range between 1.0507 and 1.0585

Discussion in 'Technical Analysis' started by ForexCycle.com, Dec 17, 2012.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Joined:
    Sep 1, 2008
    Messages:
    914
    Likes Received:
    0
    AUDUSD moves sideways in a range between 1.0507 and 1.0585. Support remains at the lower line of the price channel on 4-hour chart, as long as the channel support holds, the sideways move could be treated as consolidation of the uptrend from 1.0287, and another rise to test 1.0624 (Sep 14 high) is still possible after consolidation, only a clear break below the channel support could signal completion of the uptrend.

    [​IMG]

    Daily Forex Analysis
     
Loading...

Share This Page