Forex4you Technical Analysis 17 May 2011

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AUD/USD:technical analysis
On a longer term basis the aussie remains in a strong uptrend although shorter term it is going sideways. Given the fulcrum shaped reversal pattern at the lows and the fact the 0.001x3 is in an uptrend - the probabilities lean slightly towards higher prices with a break above the highs at 1.0615 as a key requirement. If so the the target at 1.0670 is reachable, followed by 1.0730.



Forex | 外匯
Analysis by: Joaquin Monfort
Forex4you analyst

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