|
AUDUSD: Biased To The Upside Despite Correction |
 |
 |
 |
|
Technical Archives |
Written by FXTechstrategy |
Sep 08 10 15:40 GMT
|
AUDUSD: Biased To The Upside Despite Correction
AUDUSD: We are looking for the present corrective/consolidation price action to fade and then pave the way for a run to the upside. This should see AUDUSD targeting the 0.9221 level, its Aug 06'10 high at first with a breakthrough that level allowing for more strength towards its May 04'10 high at 0.9265. A clean penetration of that level will clear the way for more recovery towards its April 21'10 high at 0.9337 and then the 0.9404 level, its Nov'16'10 high. Alternatively, on a reversal of its current bid tone, the 0.9078 level should come in as the first target with a loss of there aiming at the 0.8770 level followed by the 0.8736 level and then the 0.8632 level, its July 19'10 low. Overall, short term risk remains to the upside despite its present consolidation.
|
About the AuthorMohammed Isah
Market Analyst
www.fxtechstrategy.com
This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are the author's own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which the author incur any responsibility. The does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report |
