AUD/USD Heading Toward Support

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AUD/USD Heading Toward Support

By Greg Michalowski on February 18, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

The AUD/USD pair has traded lower for most of the day tracking the losses in the Euro. Looking at the 4-hour retracement analysis from the 2/2 lows to the 2/9 highs we see some support levels for the pair on the horizon. The chart below is a short-term retracment analysis inside of a larger daily wedge we have discussed in the past and the indicators from that wedge are identified below.

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