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Short Term Analysis
AUDUSD is forming a symmetrical triangle pattern
Fri, May 16 2008, 00:38 GMT
by Franco Shao
Being supported by 0.9275, AUDUSD rebounded from 0.9291. The pair might be forming a symmetrical triangle pattern in a range trading between 0.9275 and 0.9541 (Apr 23 high). Further rise towards 0.9800 area is expected after the symmetrical triangle pattern is broken above. Key support is now located at 0.9275, only break of this level will signal resumption of the down trend.
Published on Fri, May 16 2008, 00:38 GMT
Archive
- AUDUSD is forming a symmetrical triangle pattern
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