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AUD/USD Faces 1.0480 Resistance

By ForexNov 26, 2012 02:07AM GMT Add a Comment
 
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AUD/USD is facing 1.0480 resistance, a break above this level will confirm that the uptrend from 1.0149 (October 8 low) has resumed, then further rise towards 1.0550 could be seen. Support is at the upward trend line on the 4-hour chart, only a clear break below the trend line will suggest that a lengthier consolidation of the uptrend is underway, then sideways movement in a range between 1.0287 and 1.0480 could be seen.
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