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AUDUSD rebounded from 0.7789 level

Discussion in 'Technical Analysis' started by ForexCycle.com, Jun 23, 2009.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    After breaking below 0.7827 support, AUDUSD rebounded from 0.7789 level. The pair might be forming a short term cycle bottom on 4-hour chart. Key resistance is locate at 0.8118, a break above this level will indicate that the medium term uptrend from 0.6284 has resumed, then the next target would be at 0.8500-0.8600 area.


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