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

AUDUSD pulled back from 0.7237

Discussion in 'Commodity vs Dollar' started by ForexCycle.com, Oct 16, 2008.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Joined:
    Sep 1, 2008
    Messages:
    914
    Likes Received:
    0
    After breaking above 0.7133 resistance, AUDUSD pulled back from 0.7237 and reached 0.6495 level. One more rise above 0.7237 previous high to reach next short term cycle top is still in favor. Initial support is now located at 0.6495, only fall below this level will signal resumption of down trend, and then deeper decline could be seen to 0.6000 zone.

    [​IMG]

    Daily Forex Analysis
     
Loading...

Share This Page