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AUD/USD: Bulls Take Out Resistance, Eyeing 0.90

AUD/USD: Bulls Take Out Resistance, Eyeing 0.90

2010-07-23 04:05:00
Ilya Spivak, Sr. Currency Strategist
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Strategy: Pending Short

AUDUSD has taken out horizontal support-turned-resistance at 0.8855, clearing the way for a move beyond the psychologically significant 0.90 figure to challenge 0.9043. However, early signs of emerging negative RSI divergence hint that a blow-off top may be in the cards. Overall, we continue to see the trend as broadly bearish and will look for actionable selling opportunities in the days and weeks ahead.

candlesticks07222010AUD

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