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AUDUSD: Correction to Offer Sell Entry

AUDUSD: Correction to Offer Sell Entry

2010-05-10 11:01:00
Ilya Spivak, Sr. Currency Strategist
Share:

AUDUSD has rebounded from horizontal support at 0.8855. A break above the 0.90 figure will open the door for a re-test support-turned-resistance at the bottom of a rising channel set from late February (now at 0.9204), an outcome that may present a very attractive selling opportunity. I will monitor prices in the days ahead for a setup to enter short.

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