Wednesday, January 12, 2011

AUDUSD retesting the rising trendline


AUDUSD retesting the rising daily trendline after broken through it. The price had hit the profit target of  0.983 area and rebound from the support. Minor resistance area is at 0.9885. The next resistance is at 0.998 and support is at 0.9810 and 0.9775.


Yesterday closing candle are a big bearish candle for this pair. The price broke through the daily trendline and now retesting it. 



By The Backyard Burner

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Fear of failure

Fear of failure