AUDUSD's bounce from 0.9134 extended to 0.9325 only

By IBTimes Staff Reporter | May 02 2010 10:49 PM

AUDUSD's bounce from 0.9134 extended to 0.9325 only and the subsequent fall suggests lengthier consolidation of uptrend from 0.8577 (Feb 5 low) is underway. Sideways movement in a range between 0.9134 and 0.9381 would more likely to continue in a couple of days. Key resistance is now at 0.9337, a break above this level will indicate that the uptrend from 0.8577 has resumed, then another rise to 0.9500 area could be seen.

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