AUD/USD Retraces Within Uptrend

By IBTimes Staff Reporter | July 28 2010 3:05 PM

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AUD/USD (a 4-hour chart of which is shown), has retraced back down to a key uptrend support line extending from the 83.15 double-bottom low established in early July. This bearish retracement occurs within the context of this month's steep uptrend that hit a 2+ month high of 0.9067 just yesterday before beginning the current correction. For more AUD/USD technical analysis, please click here.

James Chen, CTA, CMT

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