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AUDUSD pulls back from 0.9317

Discussion in 'Technical Analysis' started by ForexCycle.com, Jul 23, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    After touching 0.9305 resistance, AUDUSD pulls back from 0.9317, suggesting that the pair remains in consolidation of the downtrend from 1.0582 (Apr 11 high). Another fall to test 0.8998 previous low support is still possible, and a breakdown below this level could signal resumption of the downtrend. On the upside, a clear break and hold of 0.9305 resistance will indicate that the downtrend from 1.0582 had completed at 0.8998 already, then the following upward movement could bring price to 1.0000 zone.


    Provided by ForexCycle.com

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