AUDUSD Channel Top Rejects
2012
The AUDUSD has been picking and poking at the top of its channel for the majority of the week. On Tuesday the pair decided to back off a bit a give the channel a bit of breathing room. Until Thursday the economic docket is empty for this pair. Which could lead to a bit of range bound trading. Support begins at the ascending trend line at 1.0510. A break below this level exposes the pair to move lower towards 1.0425. Channel resistance rest around the 1.06 level.
Sup 1.0510 1.0420
Res 1.06
Keane Insight. Looking for a test of trend line support around 1.0510.
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