Price action on AUD/USD (a 4-hour chart of which is shown) as of Monday (9/20/2010) has continued its bullish stance this week to breakout tentatively above last week's 0.9467 high, establishing yet a new 2+ year high in the process. This occurs within the context of a steep parallel uptrend channel extending back to the late August low and, in turn, a larger multi-leg uptrend extending back to the June low. For more technical analysis on this currency pair, please click here for Monday’s (9/20/2010) Chart of the Day.
James Chen, CTA, CMT
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