AUDUSD Breaks Major Resistance

18 Jul
2012
by in Uncategorized

The AUDUSD managed to break above major price resistance in New York trading after drifting sideways for the majority of Asian and European trading.  The next major level of resistance does not occur until the 1.0460 level.  Support is now at past resistance at 1.0325 followed closely by the acceding trend line the pair has been riding higher around 1.03.  Until the pair breaks the ascending trend line the path of least resistance is higher.

Sup   1.0325                   1.03

Res   1.0460

 

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