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Chart of the Day
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Chart of the Day – AUD/USD
Wed, Jun 24 2009, 15:42 GMT
by James Chen
(Chart courtesy of FX Solutions' FX AccuCharts. Price on 1st pane, Slow Stochastics on 2nd pane; horizontal support/resistance levels in yellow; uptrend lines in green; downtrend lines in red; 50-period simple moving average in light blue.)
6/24/2009 – AUD/USD – Price action on AUD/USD, a daily chart of which is shown, has made a third bounce up off a key uptrend support line extending from the March lows. This occurs within the context of a continuing sideways consolidation that is also plaguing several other dollar-based currency pairs. Currently, after the noted trendline bounce, price has reached a short-term downtrend resistance line extending from the failed re-test of the 0.8260 high on 6/11/2009. Any strong breakout above this short-term downtrend line should target yet another re-test of that high, which is the top of the current consolidation. Downside support within the context of the current prevailing uptrend resides around the 0.7800 price region.
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Published on Wed, Jun 24 2009, 15:43 GMT
Archive
- Chart of the Day – Silver
Published On Mon, Nov 23 2009, 16:20 GMT - Chart of the Day – EUR/JPY
Published On Thu, Nov 19 2009, 16:15 GMT - Chart of the Day – AUD/USD
Published On Mon, Nov 16 2009, 16:22 GMT - Chart of the Day – EUR/USD
Published On Fri, Nov 13 2009, 16:26 GMT - Chart of the Day – USD/CHF
Published On Wed, Nov 11 2009, 16:24 GMT
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