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

AUDUSD’s upward move extended to 1.0227

Discussion in 'Technical Analysis' started by ForexCycle.com, Mar 24, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Joined:
    Sep 1, 2008
    Messages:
    914
    Likes Received:
    0
    AUDUSD’s upward move from 0.9704 extended to as high as 1.0227. Now the pair is facing 1.0255 (Dec 31, 2010 high) resistance. Minor consolidation would likely be seen before breaking above this level. Support is at 1.0130, below this level will indicate that consolidation of uptrend is underway, then the pair will find support at 1.0050. On the upside, if 1.0255 resistance gives way, next target would be at 1.0400 zone.

    [​IMG]

    Daily Forex Analysis
     
Loading...

Share This Page