Monday, May 13, 2013

AUDUSD Trades Below 1.0150 Support, Finds Trendline Support at .9950

The aussie finds its way below 1.0150 after failing its last attempt back in March.  However, a sloping trendline can be seen here as providing significant support.  Should it sustain this level, then a test of 1.0150 former support turned now resistance will follow.  From the macro level, monthly charts show a consolidating triangle trend nearing an end and a major breakout, up or down, to follow.

No comments:

Currency Trading News by DailyFX

Bloomberg