AUD/USD Classical Technical Report 09.27
By Joel Kruger, Technical Strategist
27 September 2011 05:21 GMT
AUD/USD:
The latest sharp pullback below 0.9925 now opens a fresh downside
extension exposing 0.9000 and officially confirms a major lower top by
1.0765 below the 1.1080 post float record highs from July. However, with
short-term technical studies looking stretched, we would not rule out
the possibility for some form of corrective relief back above parity
before the market once again resumes its downward trajectory. Look for
inter-day rallies to be well capped below parity on a daily close basis
while ultimately, only back above 1.0400 would delay.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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27 September 2011 05:21 GMT
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