AUDUSD breaks above 1.0274 resistance
October 12, 2012 1:41 am in Forex Analysis
AUDUSD breaks above 1.0274 resistance, and is now facing the downward trend line resistance. As long as the trend line resistance holds, the downtrend from 1.0624 could be expected to resume, and another fall to 1.0000-1.0100 area to complete the downward movement is possible. On the upside, a clear break above the trend line resistance will suggest that the fall from 1.0624 has completed, then further rise towards 1.0624 previous high could be seen.