Sponsors

AUDUSD: Technical Positioning Points to Double Top

Daily Forex Reports | by Dailyfx.com | Friday, 13 November 2009 09:29 UTC
A double top may be in place, with AUDUSD showing an Advance Block bearish reversal candlestick pattern below resistance at 0.9334. Dramatic negative RSI divergence bolsters a bias favoring the downside. That said, the Australian Dollar has shown undeniable bullish momentum over recent months and we see it as prudent to seek final confirmation on a daily close below the rising trend line established from the March lows (now at 0.9031) before entering short.

audusd

Written by Dailyfx.com

dailyfx

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.

Sponsors

Subscribe to Newsletter

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