Sunday, November 1, 2009

AUDUSD looking to take a dip below 0.8800 level

AUDUSD has settled into a nice downward trend and currently present
around a very important level at 0.9000 and it seems that it will
gradually drop below 0.8800 level.

A good selling level is present around 0.9080 level and if it manages
to break above 0.9200 level, then reversal of position will be
indicated.

On the lower side, not much support can be seen before 0.8800 level
and therefore it can be said that we should expect nice move below
0.8800 level and then 0.8680 seems the next target for AUDUSD.

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