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AUDUSD stays above a upward trend line

Discussion in 'Technical Analysis' started by ForexCycle.com, Dec 9, 2012.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    AUDUSD stays above a upward trend line on 4-hour chart, and remains in uptrend from 1.0287. As long as the trend line support holds, the uptrend could be expected to continue, and further rise to 1.0550 area is still possible. On the downside, a clear break below the trend line support will suggest that a cycle top has been formed at 1.0515, and the uptrend has completed, then the following downward movement could bring price back to 1.0000 zone.

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