Mar 17, 2010

FX Path

FX Path

AUD/USD - Continues Bullish Trend Run

Posted: 17 Mar 2010 10:17 AM PDT

Bullish price action on AUD/USD, a daily chart of which is shown, continues to follow a well-defined uptrend support line extending from the early February low. In the process, price has just reached a new 8-week high. This strong medium-term uptrend places the key 0.9325 area resistance in clear and immediate focus. For more technical analysis on this currency pair, please click here for Wednesday’s (3/17/2010) 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.
* For information on my book, Essentials of Foreign Exchange Trading (Wiley), please click here.
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