Daily Forex Reports |
Written by Dailyfx.com |
Friday, 13 November 2009 09:29 GMT
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.
Written by Dailyfx.com