1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

AUDUSD stays above a uptrend line

Discussion in 'Technical Analysis' started by ForexCycle.com, Dec 28, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Joined:
    Sep 1, 2008
    Messages:
    914
    Likes Received:
    0
    AUDUSD stays above a uptrend line on 4-hour chart and remains in uptrend. As long as the trend line support holds, uptrend is expected to continue and another rise towards 1.0182 resistance is still possible later today. However, a clear break below this trend line will suggest that a cycle top is being formed. Key support is located at 0.9987, a breakdown below this level could bring price back to 0.9600-0.9700 area.

    [​IMG]

    Daily Forex Forecast
     
Loading...

Share This Page