Thursday, January 7, 2010
AUDUSD heading towards 0.9275
AUDUSD is moving nicely in an upward trend towards 0.9275 and currently it is taking due retrace and traders will have a lots of buying opportunities on dips around current levels. The first buying level traders will focus is 0.9175 and intra-day traders will certainly like to cash on this opportunity.
If the retracement is extended below 0.9150 level, then next buying level in focus will be around 0.9110 level and aggressive traders might enter both levels to average out both trades.
0.9110 is an important level, as break below that level will confirm downward trend and traders will then start selling AUDUSD for both large and small targets.
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