AUD/USD: reaching resistance

Daily Forex Reports | by Forex4you | Monday, 30 July 2012 13:57 UTC
The aussie has continued channelling higher in what might be a bullish ending pattern. It is currently at a strong group of resistance lines and there is a possibility that it might roll-over from here and fall to support from the lower channel-line at 1.0330. Further confirmation is required, however, such as a breach of the 1.0445 lows. A continuation higher would be expected to reach tough resistance from the upper channel-line at 1.0510.

Written by Forex4you

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