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AUD/USD extends gains after breaking Fibo resistance; brushes trendline

By   || January 5, 2010 at 13:00 GMT
|| 1 comment || Add comment

AUD/USD broke resistance at 0.9150 earlier, the 61.8% retracement the 0.9405/0.8733 decline from mid-November to late December. It is now bumping up against resistance from a line drawn off the 0.9405 and 0.9326 highs. Congestion is seen now between 0.9175 and 0.9200, where barriers are sure to be rumored. Looks a bit late to jump aboard the bandwagon but I would not fade the trend.

1-5-aud

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One Response to “AUD/USD extends gains after breaking Fibo resistance; brushes trendline”

  1. ForexLive US wrap-up: Turn-around Tuesday | ForexLive on January 5th, 2010 21:38 GMT

    [...] toward risk assumption at the dawn of the New Year sojn faltered in the US today as Aussie recoiled trendline resistance at 0.9175 first thing this [...]

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