FXstreet.com

Long Term Forex Analysis

5

0

AUDUSD stays above the rising trend line on daily chart

Sat, Jun 6 2009, 13:03 GMT
by Franco Shao

ForexCycle.com


AUDUSD stays above the rising trend line on daily chart and remains in uptrend from 0.6284. The pullback from 0.8263 is more likely consolidation of uptrend. Further fall to test the support of the rising trend line is possible next week, as long as the trend line support holds, we'd expect the uptrend to resume, and one more rise towards 0.8500 is still possible. However, below the trend line support will indicate that the uptrend from 0.6284 has completed at 0.8263 level already.

For long term analysis, AUDUSD has formed a cycle bottom at 0.6008 (2008 low) level on monthly chart. Further rise to 0.8300-0.8500 area is expected.


AUDUSD Daily Chart


Archive

ForexCycle.com  | China
http://www.forexcycle.com/ | info@forexcycle.com

Legal disclaimer and risk disclosure

Investment and trading decisions are solely your responsibility. None of the ForexCycle.com newsletters or web site materials should be interpreted as a recommendation or solicitation to take any short or long positions, or to take any specific action.

Related reports

Technical Market Commentary - Technical Market Commentary by India Forex Advisors
Tue, Nov 24 2009, 05:58 GMT

Forex Trading Strategies - Market starts the week with another attempt at reinvigorating the USD carry trade by Saxo Bank
Tue, Nov 24 2009, 05:57 GMT

Market Morning Briefing - Market Morning Briefing by Kshitij Consultancy Service
Tue, Nov 24 2009, 05:45 GMT

Forex Market Alerts - Chart AUD/NZD Update : Upside stays in focus by FXMarketAlerts
Tue, Nov 24 2009, 03:15 GMT

Daily Forex Outlook - Gold Leads Fresh Rally by Easy Forex
Tue, Nov 24 2009, 03:03 GMT

audusd

View All

Related content

Forex: AUD/NZD up and trading at 1.2631
FXstreet.com | Tue, Nov 24 2009, 05:56 GMT

Asian forex market wrap: don’t be happy, worry!
Forex Live | Tue, Nov 24 2009, 04:56 GMT

Forex: AUD/USD mixed and trading at 0.9204
FXstreet.com | Tue, Nov 24 2009, 04:19 GMT

No bounce in AUDUSD
Forex Live | Tue, Nov 24 2009, 03:33 GMT

Australian Government sees additional expenditure on carbon trading scheme
Forex Live | Tue, Nov 24 2009, 01:21 GMT

audusd

View All

Interested in forex trading? forex brokerage firms!


FOREX.com
Contact the broker/FDM
Open a demo account
MG Financial Group
Contact the broker/FDM
Open a demo account
GFT
Contact the broker/FDM
Open a demo account
Saxo Bank A/S
Contact the broker/FDM
Open a demo account
City Credit Capital (UK) Limited
Contact the broker/FDM
Open a demo account

GET CASH BACK FOR YOUR TRADES!   Learn more about the Pip Rebate Program

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

©2009 "FXstreet.com. The Forex Market" All Rights Reserved.