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AUDUSD remains in uptrend from 0.8771

Discussion in 'Technical Analysis' started by ForexCycle.com, Oct 9, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    AUDUSD remains in uptrend from 0.8771 and the rise extended to as high as 0.9916 level. Support is at 0.9540, as long as this level holds, uptrend is expected to continue and next target would be at 1.0100 area. Only break below 0.9540 could indicate that the rise from 0.8771 has completed, then the following pullback would bring price back towards the uptrend line on daily chart.

    For long term analysis, AUDUSD is in uptrend from 0.8066, further rise to 1.1000 area is still possible in next several weeks.


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