AUDUSD Looks To Be In A Wedge
31
Oct
2012
2012
The AUDUSD moved up on Wednesday to once again test the resistance zone created by the 50 Fib at 1.0386 and daily resistance at 1.0410. This level has proven to be difficult to break. In the short term it looks as though the pair is stuck in a wedge between 1.0410 and the ascending TL currently around 1.0360. A break to the bottom of the wedge exposes the bottom of the weekly range at 1.0250.
Sup 1.0250
Res 1.0386/1.0410
Keane Plan .... Watching for a break of the wedge in either direction.
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