AUDUSD moves sideways in a range between 1.0149 and 1.0274
October 10, 2012 2:23 am in Forex Analysis
AUDUSD moves sideways in a range between 1.0149 and 1.0274. Key resistance remains at the downward trend line on 4-hour chart, as long as the trend line resistance holds, the price action in the range is treated as consolidation of the downtrend from 1.0624, one more fall to 1.0000-1.0100 area to complete the downward movement is possible after consolidation. On the upside, a clear break above the trend line resistance will indicate that the downward movement has completed at 1.0149, then further rise towards 1.0624 previous high could be seen.