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AUD/USD Drops to Trendline Support

Jan. 06, 2011 11:54 AM ET
James Chen profile picture
James Chen's Blog
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AUD/USD (a daily chart of which is shown) as of Thursday (1/06/2011) has reached down to approach the bottom border of a key parallel uptrend channel that extends back to the early June 2010 lows. This occurs after price established a new multi-decade high around 1.0250 on New Year’s Eve. For more AUD/USD forex technical analysis, please click here.

James Chen, CTA, CMT

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