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AUDUSD’s fall extends to 0.9332

Discussion in 'Technical Analysis' started by ForexCycle.com, Sep 26, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    AUDUSD’s fall from 0.9526 extends to as low as 0.9332. Deeper decline to test 0.9300 support is possible, as long as this level holds, the fall could be treated as consolidation of the uptrend from 0.8892, one more rise towards 1.0000 is still possible after consolidation. On the downside, a breakdown below 0.9300 support will indicate that the uptrend from 0.8892 had completed at 0.9526 already, then the following downward movement could bring price back to re-test 0.8847 (Aug 5 low) support.

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