Further AUDUSD Upside as Base Forms

18 thg 10, 2012

The AUDUSD looks well placed to keep rolling higher today. Although it hit overbought levels on the RSI, it has formed a support base at 1.0360 indicating that demand has stepped up and yesterday's move wasn't just a short breakout after 1.0285 resistance was cleared. Also, the trade could see extra short term buying if and when it takes out 1.0400 and triggers short term SL's.

Full commentary on swifttick.com/analysis/2012/10/18/buying-audusd-on-possible-further-breakout.html