Trade FOREX with FXCM

  • Award-Winning Platform
  • 24/7 Customer Support
  • Trade Directly on Charts
  • Free $50K Practice Account


Australian Dollar Heads Above .7550

By Sam Shenker
26 January 2006 10:47 GMT
A further move to the upside will most likely see the pair head higher and stall around .7729, a level defended by the September 29 daily high. However in case the pair fails to reach .7564, a subsequent reversal will most likely see the US dollar longs test the Aussie bids around .7439, a 38.2 Fib of the .7798-.7236 USD rally.  Indicators are supporting Australian dollar longs with both positive momentum indicator and positive MACD above the zero line, while neutral oscillators give either side enough room to maneuver.

provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from

26 January 2006 10:47 GMT