AUD/USD Bearish Correction Within Uptrend

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AUD/USD Bearish Correction Within Uptrend

By James Chen on September 21, 2009 | More Posts By James Chen | Author's Website

As with other dollar-based currency pairs, AUD/USD, a daily chart of which is shown, has begun to show signs of some dollar recovery after the pummeling that the greenback has been taking against several currencies in the past couple of weeks. After reaching a high of 0.8775 late last week, this overbought pair fell substantially both right before last week’s close and on this week’s open.

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