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AUDUSD stays above the rising trend line

Discussion in 'Technical Analysis' started by ForexCycle.com, Jun 30, 2009.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    AUDUSD stays above the rising trend line on 4-hour chart and remains in short term uptrend from 0.7789. As long as the trend line support holds, we’d expect uptrend to continue and further rally is possible to 1.8200 zone in a couple of days. However, a clear break below the trend line support will indicate that the rise from 0.7789 has completed and the follow pullback will take price to 0.7850-0.7900 area.


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