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AUDUSD: Maintains Above The 0.9078 Level |
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Technical Archives |
Written by FXTechstrategy |
Sep 03 10 12:05 GMT
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AUDUSD: Maintains Above The 0.9078 Level
AUDUSD: The pair remains biased to the upside having held firmly above the 0.9078 level. This has created scope for more upside towards the 0.9219 level. While this level may present a considerable resistance on initial test, we believe it should give way for a run 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. Its daily RSI is bullish and pointing higher supporting this view. Alternatively, on weakness the 0.9078 level just eroded should come in as the initial 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.
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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 |
