Price action on AUD/USD (a 4-hour chart of which is shown) as of Monday (7/26/2010) morning has just closely approached its key bullish resistance target of 0.9000, the potential for which was noted in last week’s AUD/USD analysis. This reach towards resistance, which establishes a new 2+ month high, occurs within the context of an uptrend extending from the early July double-bottom low. For more technical analysis on this currency pair, please click here for Monday’s (7/26/2010) Chart of the Day.
James Chen, CTA, CMT
* For information on my DVD set, High-Probability Trend Following in the Forex Market, please click here.
* For information on my book, Essentials of Foreign Exchange Trading (Wiley), please click here.
* For information on my new book, Essentials of Technical Analysis for Financial Markets (Wiley), please click here.
Technical Trading Tips and Techniques by 
