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AUDUSD remains in downtrend from 1.0624
Monday, October 8, 2012 18:28
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AUDUSD remains in downtrend from 1.0624, the price action from 1.0181 is treated as consolidation of the downtrend. Range trading between 1.0149 and 1.0280 would likely be seen in a couple of days. Key resistance is at the downward trend line on 4-hour chart, as long as the trend line resistance holds, we’d expect downtrend to resume, and one more fall to 1.0000-1.0100 area to complete the downward movement is possible, only a clear break above the trend line resistance could signal completion of the downtrend.
