Forex technical, AUDUSD breaks above 0.8074

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AUDUSD breaks above 0.8074

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September 19th, 2008, 4:15 am | By forexcycle | Published in Daily Technical | No Comments »

AUDUSD breaks above 0.8074 and formed a short term cycle bottom at 0.7802 on 4-hour chart. Further rally to test 0.8262 resistance is possible later today. However, the rise from 0.7802 is treated as correction to down trend. Key resistance is located at 0.8353, only break thought this level will signal reversal to down trend.

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