AUDUSD Analysis - March 6, 2010 Bookmark and Share
Forex Market Analysis  |  Written by ForexCycle.com |  Saturday, 06 March 2010 04:34 GMT
AUDUSD broke above 0.9070 previous high, suggesting that another rally to 0.9200-0.9250 is underway. Support is now at the rising trend line from 0.8577 to 0.8801, key support is at 0.8801, only fall below this level could take price back to re-test 0.8577 level.

For long term analysis, AUDUSD might be forming a cycle bottom at 0.8577 level on weekly chart. Rise towards 0.9800 area is possible in next several weeks.

audusd daily chart
 

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