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AUDUSD remains in downtrend from 0.9085

Discussion in 'Technical Analysis' started by ForexCycle.com, Jan 27, 2014.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    AUDUSD remains in downtrend from 0.9085, the rise from 0.8660 could be treated as consolidation of the downtrend. Resistance is at the upper line of the price channel on 4-hour chart, as long as the channel resistance holds, the downtrend could be expected to resume, and next target would be at 0.8500 area. On the upside, a clear break above the channel resistance will indicate that the downward movement from 0.9085 had completed at 0.8660 already, then the following upward movement could bring price to 0.8950 - 0.9000 area.


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