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AUDUSD stays above a upward trend line

Discussion in 'Technical Analysis' started by ForexCycle.com, Oct 15, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    AUDUSD stays above a upward trend line on 4-hour chart, and remains in uptrend from 0.9280. As long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 0.9650 area. On the downside, a clear break below the trend line support will indicate that lengthier consolidation of the longer term uptrend from 0.8847 (Aug 5 low) is underway, then deeper decline to 0.9300 area to complete the consolidation could be seen.


    Provided by ForexCycle.com

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