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AUDUSD: Halts Declines, Threaten A Return To 1.0842 Level
The pair may have halted its pullback and triggered a recovery higher but will have to return above the 1.0842 level to trigger its broader medium term uptrend. This if seen will open upside risk towards the 1.0900 level, representing its psycho level. Further out, the next upside target resides at the 1.1000/4 levels and ultimately, its July 27’2011 high at 1.1078. Its daily RSI is bullish and pointing higher suggesting further strength. On the other hand, on continued pullbacks, the 1.0568/25 levels will be targeted where a breather may occur. However, if this fails to happen, we could see the pair aiming at ... (full story)
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