Price action on AUD/USD, a daily chart of which is shown, continues to languish in a sideways consolidation, although the last couple of weeks have been decidedly bearish for the pair. After price reached strong resistance around 0.9325 in mid-January (just shy of the 15-month high around 0.9400 that was hit in mid-November 2009), the directional bias has been steeply bearish, forming a well-defined short-term downtrend resistance line. For more technical analysis on this currency pair,
0 comments:
Post a Comment