30 June 2009
AUD/USD technical analysis
A Pair continued its growth and now trying to consolidate above resistance level of 0.8120, referred as a main target in a previous commentary. Indicators setting keeps upward trend, MACD moves up its histograms in a positive sector, R% and SS entering in an overbuying zone. Summary picture speaks for growth continuation to a next resistance of 0.8220. In the same time, in many respects it depends on “bull’s” ability to stay above the level of 0.8120. If after it won’t be a consolidation and trade fall below support of 0.8080, then supposition about return to a trend line of regress channel (blue lines) will be actualized, to a support area of 0.7980/90.
Analysis prepared by:
Arkady Nagiev
Forex4you analyst
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