FXstreet.com

Short Term Analysis

0

0

AUDUSD stays below 0.8403 resistance

Tue, Sep 9 2008, 01:05 GMT
by Franco Shao

ForexCycle.com


AUDUSD stays below 0.8403 resistance and pulled back from 0.8353 level. Consolidation in a range between 0.8029 and 0.8403 would more likely be seen in a couple of days. Key resistance is now located at 0.8353, a break of this level will signal reversal to down trend, and then subsequent rebound could be seen to test 0.8693 resistance. However, below 0.8029 will take price back to down trend, and target would be at 0.7500 zone.


AUDUSD 4H 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.


Interested in forex trading? forex brokerage firms!


FOREX.com
Contact the broker/FDM
Open a demo account
FX Solutions LLC
Contact the broker/FDM
Open a demo account
IG Markets
Contact the broker/FDM
Open a demo account
CitiFX Pro
Contact the broker/FDM
Open a demo account
Deutsche Bank
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.