Forex: AUD/USD: Aussie pulled down from previous support trendline at 0.9190

Mon, Nov 30 2009, 13:41 GMT
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FXstreet.com (Barcelona) - Australian Dollar rebound from 0.8945 low on Friday extended on Monday's Asian session to test previous support turned resistance trendline at 0.9190, where the pair was rejected and fell afterwards to 0.9160.

Failure to break above the mentioned line might keep up the chances of a trend reversal alive, says the Kshitij Consultancy Service Team: "Failure see a break above this Support-turned-Resistance is keeping up the chances of Trend reversal alive. If it continues to trade lower, a strong break below 0.9100 might pull it down towards 0.9050-30 in the US session today."

On the upside the Kshitij Consultancy Service Team expects 0.9210 to cap the Aussie: "Any sharp upmove is not looking likely and we expect the Support-turned-Trendline Resistance at 0.9210 continue to hold in the US session."

AUD/USD

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