FX.co ★ AUD/USD,Around The Trend Line Janaury 07, 2011 (Daily Strategy)

AUD/USD

The strengthening of the United States dollar in the last few days is expressed also in the currency pair considered the most bullish among the leading currencies, the Australian dollar - United States dollar pair.

A downwards breach of the trend level at its meeting point with an additional support line at 0.9910 will form a major technical signal for a continued movement to the South. In such a case, the negative momentum can be utilized with a sell deal timed to close only when the pair reach the support level around 0.9760 United States dollars for one Australian dollar.