Forex: AUD/USD stalls below 0.9180 resistance

By IBTimes Staff Reporter | January 05 2010 9:31 AM

FXstreet.com (Barcelona) - Aussie rally from yesterday's low at 0.8935 has extended above 0.9135 (Jan 4 high), although the pair has been capped at 0.9175 (Dec 14/15 high), before easing back to 0.19135 area.

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On the upside above 0.9180 the Aussie could stretch towards 0.9230, according to the Kshitij Consultancy Service Team: Aussie has risen from the day's low of 0.9099 and is continuing to trade higher. If it continues to trade higher, a break above the immediate Resistance at 0.9180 might take it up towards 0.9230. Note that the projected Max-High for the day is 0.9224.

On the downside, if 0.9180 holds, the Kshitij Consultancy Service Team, foresees a re-test of the 0.9100 level: if the immediate Resistance at 0.9180 holds, the Support at 0.9100 might be tested once again. A strong break below 0.9100 might pull it down towards 0.9030.

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