| AUD/USD - Double Bottom Pattern Potential Posted: 10 Jun 2010 09:29 AM PDT  Price action on AUD/USD, a daily chart of which is shown, has been displaying the potential for a double-bottom low pattern established earlier in the week just below the 0.8100 support region. Of course, this potential trend reversal pattern will not have been realized unless and until price breaks out significantly above the 0.8550 price region, which represents the peak between the two bottoms and is also a key resistance region in its own right. For more technical analysis on this currency pair, please click here for Thursday’s (6/10/2010) Chart of the Day.
James Chen, CTA, CMT * For information on my DVD set, High-Probability Trend Following in the Forex Market, please click here.
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