Sunday, October 2, 2011

The AUD/USD Breaks Below its Trend Line

The AUD/USD has broken below its 2008-2010 trend line, and the forecast remains lower towards bearish levels from the from the November 2010 low at 9534 and the 2009-2010 double top at 9400.

This larger bearish model is valid against 9985. Resistance is 9700/60 this coming  week.

Posted by David Frank, Avafx