25 Oct 2013
AUDUSD, false break or follow through due? - 2ndSkies
FXstreet.com (Barcelona) - AUD/USD sellers were ready to pull the trigger in the last London session, in which a brief visit of 9670 - 9703 resistance area led to a convincing sell-off towards 0.9570.
According to Chris Capre, Founder at 2ndSkies: "The pair bounced back above 9615/20 so this may be a false break. If 9630 holds, then we may get follow-through, but if it folds, then a re-attack on the 9670/9700 should be up next."
Looking at the potential key areas, Capre adds: "Bears can look to sell into this resistance zone, or wait for yesterdays highs around 9750. Bulls meanwhile would be best served waiting for a pullback towards 9530 before getting long again."
According to Chris Capre, Founder at 2ndSkies: "The pair bounced back above 9615/20 so this may be a false break. If 9630 holds, then we may get follow-through, but if it folds, then a re-attack on the 9670/9700 should be up next."
Looking at the potential key areas, Capre adds: "Bears can look to sell into this resistance zone, or wait for yesterdays highs around 9750. Bulls meanwhile would be best served waiting for a pullback towards 9530 before getting long again."