Short Term Analysis

AUDUSD broke below the up trend line

Tue, Jul 1 2008, 01:07 GMT
by Franco Shao

ForexCycle.com


AUDUSD broke below the up trend line on 4-hour chart. Sideways consolidation in a range between 0.9541 and 0.9667 could be seen in a couple of days. As long as 1.9493 key support holds, we’d expect up trend to resume and rise to 0.9700 to reach next cycle top on 4-hour chart is possible.


AUDUSD 4H Chart

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