AUD/USD Moves Lower. Next Target 0.8983 Then 0.8947

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AUD/USD Moves Lower. Next Target 0.8983 Then 0.8947

By Greg Michalowski on October 28, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

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The AUDUSD is breaking through the 38.2% retracement level at the 0.9037 level and we will once again watch the level as topside resistance. Break out traders could sell with a stop if the price moves back above the 0.9037 level. The next target on the downside comes in at the 0.8983 and then 0.8947 level.

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