Forex Trading | AUD/USD - Longer Term Trading Approach: ForexAbode.com
Last Updated (Sunday, 14 March 2010 08:34) GMT
| Forex Trading : AUD/USD - Mid to Longer Term Trading Approach |
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AUD/USD: Current 0.9153 (Sunday, March 14, 2010).
Trend: Uptrend
Please refer daily charts and not short-term charts e.g. hourly charts.
The Australian dollar strengthened for a second consecutive week as the expectations are that the accelerating growth may lead to further increase in interest rates.
Analysis: The uptrend continues but please note that the currency pair is nearing the level around where it has been getting strong resistance since October 2009. This resistance has caused the formation of a nearly perfect triple top chart pattern.
Approach: We expect this currency pair to move to 0.9280 in the coming days but we are avoiding longer-term trade positions and trading short-term for AUD/USD.
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For short term trades, please refer to daily technical analysis for AUD/USD.
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| Daily Forex Analysis - Long Term Strategies |
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| Daily Forex Analysis - Short Term Strategies |
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| EUR/USD |
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| GBP/JPY |
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| USD/CHF |
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