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AUDUSD rebounded from 0.9223

Discussion in 'Technical Analysis' started by ForexCycle.com, Apr 13, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    Being contained by the lower boundary of the price channel on 4-hour chart, AUDUSD rebounded from 0.9223 level. Range trading between 0.9222 and 0.9381 is expected in a couple of days. Support is at 0.9222, below this level will indicate that a cycle top has been formed at 0.9381 level and the rise from 0.9001 has completed, then then deeper decline could be seen to 0.9165 or even 0.9100. Resistance is at 0.9381, only rise above this level could trigger another rise towards 0.9500 area.

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