By
James Chen |
Technical Analysis | Jul 13, 2010 02:39PM GMT |
AUD/USD, a 4-hour chart of which is shown, has once again tested upside resistance within the context of the current horizontal trading range. Resistance on this trading range resides in the 0.8790 price region, while support resides around 100 pips lower in the 0.8690 price region.
AUD/USD was strongly bullish for all of last week after bouncing up from a double-bottom low in the 0.8315 price region. For more
AUD/USD analysis, please click here.
James Chen, CTA, CMT
(Price on 1st pane, Slow Stochastics on 2nd pane; horizontal support/resistance levels in yellow; uptrend lines in green; downtrend lines in red; chart patterns in white; 50-period simple moving average in light blue.) Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .
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