Forex4you Technical Analysis 12 May 2011

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AUD/USD: technical analysis
The AUD/USD failed to move higher after breaking out of the triangle and then reversed trend abruptly and has fallen down to the 1.0600s. The larger bearish trend seems to have gained the upper hand and is pushing prices lower and it will probably continue, given the bearish targets on the 0.0005x3 and 0.001x3 charts at 1.0500 and 1.0490 respectively.



Forex | Foreign Exchange
Analysis by: Joaquin Monfort
Forex4you analyst


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