| AUD/USD - Testing Resistance Posted: 14 Jan 2010 08:21 AM PST  Price action on AUD/USD, a daily chart of which is shown, continues to display some robust bullishness on its sustained rebound off the late-December low. This rebound has broken out above several resistance levels, including a short-term downtrend resistance line extending from the 15-month high around 0.9400 that was hit in mid-November. Currently, price has once again revisited strong resistance in the 0.9325 price region, just short of the noted 0.9400 long-term high. For more technical analysis on this currency pair, please click here for Thursday’s (1/14/2010) Chart of the Day.
- James Chen, CTA, CMT * For information on my book, Essentials of Foreign Exchange Trading (Wiley), please click here. 
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