proacttraders's Commentaries
Sep
1
2010
$AUDUSD Breakout
by proacttraders
Overall Rating:
We did break out of the channel to the upside during the night and are currently above the .618 fibo. Topside is held right now by the strong resistance at 0.9064. and the top of the channel. Expect a small pullback to square up and then a continuation to the 0.9127 and 0.9149 targets. Downside risk is the .500 fibo at 0.8998 and the bottom of this channel at the .382 at 0.8944. We do have divergence on the cross so up moves exercise caution!
Tags: audusd | currency-market-updates | currencies
