AUD/USD: Nearing Resistance At 1.0517
Forex4you | Dec 10, 2012 09:32AM ET
The aussie is still continuing to rise. It is close to a long-term descending trend line at 1.0517, which will probably offer tough resistance. The uptrend is showing bearish divergences but price action is still rising in peaks and troughs. It would need a break below the key trend line at 1.0440 for bearish confirmation, which would then target 1.0355 or possibly even lower.
Analysis prepared by: Joaquin Monfort Forex4you analyst.
_newTouch_app_install_inline_banner_title
_newTouch_app_install_inline_banner_text
_newTouch_app_install_inline_banner_button
_touchRiskDisclosure_message