Integrity FX Technical Outlook 1/26/10
By Luke Coleman, Executive Director of Strategy & Analysis | Wednesday, January 27th, 2010 01:18 UTC
Selected Excerpt
AUDUSD is nearing the end of the descending channel that has been developing on the hourly chart. Look for a break against the main trend of the channel around 0.9000; anywhere within the circle on the chart. After the break, look for AUDUSD to push up to the first resistance zone around 0.9080. Expect some light consolidation at this level, but look for the price to push past 0.9080 up to 0.9175. There might be a bounce at this level and might be a good place to close the trade or secure profit. After the bounce, the price should break this level and head up towards 0.9275. The price will either bounce off this level, or continue right through it with no resistance to 0.9315. The trend should end at this level.
To read the full report, click here for the PDF.
To download the free PDF reader, click here.
January 27th, 2010
