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AUD/USD Classical 02.11

AUD/USD Classical 02.11

2011-02-11 06:38:00
Joel Kruger, Technical Strategist
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AUDUSD_Classical_body_aud2.png, AUD/USD Classical 02.11

AUD/USD: Rallies continue to remain very well capped ahead of 1.0200 to suggest that the key post-float record highs from late 2010 by 1.0260 will remain intact. Thursday’s sharp bearish reversal and Friday’s subsequent break back below parity now open the door for additional declines towards next key multi-day range support by 0.9800 over the coming days. Any intraday rallies should now be very well capped ahead of 1.0135.

Written by Joel Kruger, Technical Currency Strategist for DailyFX.com

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