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AUDUSD’s downward movement extends to 1.0167
Wednesday, September 5, 2012 20:04
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AUDUSD’s downward movement from 1.0543 extends to as low as 1.0167. Resistance is now at the upper border of the price channel on 4-hour chart, as long as the trend line resistance holds, another fall could be expected after a minor consolidation, and next target would be at 1.0100 area. On the upside, a clear break above the channel resistance will indicate that lengthier consolidation of the downtrend is underway, then further rally to 1.0300 area could be seen.
