fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: AUD/USD Cracks Consolidation Resistance: Triple Bottom?  Mon Dec 31, 2012 11:52 am | |
| AUD/USD Cracks Consolidation Resistance: Triple Bottom? Consolidation: The AUD/USD has basically been consolidating through the Christmas holiday, but is now testing the resistance, cracking it during the 12/28 Friday US session. Note that the 1H RSI is still 60, so the momentum is not there for a break. A break back below the middle, around 1.0360-1.0365 could be a sign that bears are still in control. On the other hand, a true break above this consolidation, which also looks like a triple bottom opens up a bullish retracement scenario. The 1.0415 pivot could be the first near-term target.  | |
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