AUD/USD Technical Analysis August 8, 2011

The AUD/USD had a fairly flat day in the markets as the day ended up almost unchanged on Friday. The low on Friday ended up being a fresh lower low, and that tells us that more than likely we will see lower prices in the future. The trading signal would be a break below the low on Friday. However, the highs being broken to the upside could send this pair upward for a bounce. That bounce would more than likely be sold by traders as the new low makes it obvious that the pair wants to fall over the long run.

Leave a Reply

Your email address will not be published. Required fields are marked *