Past performance is not a guarantee of future results. Please remember that technical analysis is only a tool for trading and even targeted analysis is no guarantee of profits. Forex trading carries a substantial risk of loss and only discretionary capital should be used in trading.

Forex Trading - AUDUSD Breaks Channel

Posted by Alex Chernomordin on Fri, 07/18/2008 - 3:54am in

Aud/usd

As detailed in the chart below, the Aussie has broken the channel to the downside noted on our last AUD/USD chart (7/16). As the pair hovers above the 97 handle and with the 50 day moving average crossing the 100 day moving average lower, a break through 97 could lead the pair toward support at 96.01.

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