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AUDUSD remains in uptrend from 0.7703

Discussion in 'Technical Analysis' started by ForexCycle.com, Jul 26, 2009.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    AUDUSD remains in uptrend from 0.7703 and the price action in the trading range between 0.8089 and 0.8221 is more likely consolidation of uptrend. As long as 0.8089 support holds, we would expect uptrend to resume and further rise to test 0.8263 previous high resistance is possible. However, a break below 0.8089 will indicate that the uptrend from 0.7703 has completed at 0.8221 level already, then deeper decline could be seen to 0.8000 zone.


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