Price action on AUD/USD, a daily chart of which is shown, has broken the previous intra-range uptrend and dropped to approach key support in the important 0.9000 price region. This occurs within an overall sideways trading range extending from late 2009, and after price hit a high approaching the significant 0.9400 resistance level in mid-April. For more technical analysis on this currency pair, please click here for Wednesday’s (5/05/2010) Chart of the Day.
James Chen, CTA, CMT
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