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AUDUSD non trending. Watch 0.9148. Correction may be coming.

Written January 5, 2010 at 8:47 AM EST by Greg Michalowski 

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gregmike-06091

The 61.8 % retracement of the move down from the November high at the 0.9405 to the December low at 0.8733 comes in at the 0.9148 level. The price moved above this level today but has come back down below this level currently.  Watch the level. The market surge may be ready for a correction lower.

gregmike-06092

Categories: Forex Trading  |  
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