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

AUDUSD stays in a trading range between 0.9157 and 0.9381

Discussion in 'Technical Analysis' started by ForexCycle.com, Apr 26, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Joined:
    Sep 1, 2008
    Messages:
    914
    Likes Received:
    0
    AUDUSD stays in a trading range between 0.9157 and 0.9381 and the price action in the range is treated as consolidation of uptrend from 0.8577 (Feb 5 low). As long as 0.9157 key support holds, another rise towards 0.9500 is still possible, and a break above 0.93.81 could signal resumption of uptrend. However, a clear break below 0.9157 support could indicate that the uptrend from 0.8577 has completed at 0.9381 already, then the following downtrend could take price back to 0.8500 area.

    [​IMG]

    Daily Forex Signals
     
Loading...

Share This Page