By
Forex4you |
Technical Analysis | Oct 17, 2011 12:18PM GMT |
Despite the larger trend being up there are some indications that a bearish move may be expected. Momentum is over-bought and beginning to fall although a signal has still not yet been given. There is also resistance from the top of the trend-channel down on the daily chart and also from the 200-day MA. The 45-degree trendline has also been touched on the longer-term P&F chart, and overall the signs are that the aussie will probably start to correct the move up, with a fall to the trendline at 1.0200 expected at first.

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