AUDUSD Analysis - June 10, 2012

Long Term Forex Analysis | by ForexCycle.com | Sunday, 10 June 2012 04:13 UTC
AUDUSD failed to break below 0.9390 (Oct 4, 2011 low), and rebounds from 0.9581, suggesting that a cycle bottom has been formed on daily chart. Further rise to test 1.0150 key resistance would likely be seen next week, a break above this level will confirm that the downward movement from 1.0855 has completed at 0.9581 already, then the following upward movement could bring price back to 1.0600-1.0700 area.

For long term analysis, AUDUSD has formed a cycle top at 1.0855 on weekly chart. Range trading between 0.9390 and 1.1080 is expected over the next several months.

audusd daily chart

Recommended Forex Trading Platforms

Forex Trading We know that the right opportunity can happen at anytime, anywhere. Saxo Capital Markets is committed to giving you a suite of platforms that will enable you to access your account and trade the markets whenever and wherever you want.


Subscribe to Newsletter

To receive alerts by email when Free Forex Analysis are updated. Enter your email address below.