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

AUDUSD’s bounce from 0.9134 extended to 0.9325 only

Discussion in 'Technical Analysis' started by ForexCycle.com, May 2, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Joined:
    Sep 1, 2008
    Messages:
    914
    Likes Received:
    0
    AUDUSD’s bounce from 0.9134 extended to 0.9325 only and the subsequent fall suggests lengthier consolidation of uptrend from 0.8577 (Feb 5 low) is underway. Sideways movement in a range between 0.9134 and 0.9381 would more likely to continue in a couple of days. Key resistance is now at 0.9337, a break above this level will indicate that the uptrend from 0.8577 has resumed, then another rise to 0.9500 area could be seen.

    [​IMG]

    Daily Forex Signals
     
Loading...

Share This Page