AUD/USD Tests Resistance, Downside Bias In Question On The Rebound

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AUD/USD Tests Resistance, Downside Bias In Question On The Rebound

By Greg Michalowski on March 27, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

The AUD/USD is back up testing the resistance area at 0.6927 to 0.6939 level. The move is admittedly bothersome given the sharp move lower earlier. Look for some profit taking selling. If the price move above, however, the technicals will shift to neutral.

The 100 bar MA on the 5 minute chart is also at 0.6941 currently.

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1 Comment :

Comment by Kiwi

2009-03-27 13:50:45

Bad data out of Europe seemed to boost USD, some of that may unwind.
Which boat has the fastest leak these days?

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