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Forex Analysis
by ForexNewsNow Team on December 27th, 2010

AUD/USD forex technical analysis round-up: Dec. 27

Aussie dollarNEW YORK (Forex News Now) – The Aussie was rising against the dollar today, trading at 1.0051 as of around 8:15 A.M., GMT.

The Aussie is up 0.06% on the day and has reached a session high of 1.0057 with a low of 0.9988 so far.

This is what a couple of the analysts say about the currency pair in the near-term:

FXstreet sees AUD/USD trading in a range between 0.9920 and 1.0110.

“Testing parity after breaking the short term ascendant trend line and leaving a small gap in the 1.0042 price zone, pair has turned pretty bearish over China’s news, giving selling signals in the hourly chart; still pair had found support recently in the 0.9980 area, so only below this last, the rally could extend towards 0.9920 price zone first, ahead of 0.9850,” it adds in intraday analysis.
Forexcycle writes in AUD/USD analysis that the currency pair remains in uptrend from 0.9830, with a further rise to 1.0110 area to reach next cycle top on 4-hour chart possible later today.

“Support is now at 0.9980, below this level could indicate that the rise from 0.9830 is complete, then pullback to 0.9600-0.9700 area could be seen,” the realtime forex news site adds.

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