proacttraders's Commentaries
Aug
12
2010
AUDUSD
by proacttraders
Overall Rating:
Ozzie is nicely positioned in a descending wedge which is bearish. A break of the wedge and clearing the 0.8900 barrier should produce a run to the 0.8790 where the .618 fib, strong support and the S5 are in confluence. Commodities are strong however, and that leaves the upside risk at 0.8950. A break of that, targets a move back to the 0.9021 area.
Tags: audusd | currency-market-updates | currencies
