Saturday, April 11, 2009

AUDUSD



Hi,
Attached above are 2 charts of AU which should be an interesting pair in the upcoming week. One chart is the daily and another is the weekly. As you can see from the daily, there is a strong resistance at 0.7202 and a double top at 0.7266. These have been serving as very strong and reliable resistances for the past month or so. They would continue to act as strong resistances in the upcoming week. If they do get broken, we could see AU go all the way to 0.7813... Lets see. Unless these resistances are broken, i will keep shorting this pair whenever it gets near 0.7200..

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