AUD/USD – Potential Bullish Breakout
Price action on AUD/USD, a 4-hour chart of which is shown, has reached and consolidated just under critical resistance around the key 0.8780 price region as of Friday (7/09/2010) morning. This currency pair has been strongly bullish for this entire week after bouncing up from a double-bottom low in the 0.8315 price region. For more technical analysis on this currency pair, please click here for Friday’s (7/09/2010) Chart of the Day.
James Chen, CTA, CMT
* For information on my DVD set, High-Probability Trend Following in the Forex Market, please click here.
* For information on my book, Essentials of Foreign Exchange Trading (Wiley), please click here.
* For information on my new book, Essentials of Technical Analysis for Financial Markets (Wiley), please click here.
