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by ForexNewsNow Team on December 30th, 2010

AUD/USD forex technical analysis round-up: Dec. 30

NEW YORK (Forex News Now) – The Aussie was falling against the greenback today, trading at 1.0165 as of around 7:55 A.M., GMT.

The Aussie is down 0.14% on the day and has reached a session high of 1.0198 with a low of 1.0162 so far.

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

FXstreet sees the currency pair trading in a range between 1.0080 and 1.0260, as the bullish trend in the cross remains intact just below the 35-year high.

“Slightly overbought in 4 hours chart, pair has no signs of changing bias or even triggering a bearish corrective movement; hourly chart shows price steady near the highs despite indicators are flat and losing strength, suggesting a break higher within the next few hours,” it continues in intraday analysis.

Action Forex notes in its AUD/USD analysis that intraday bias remains on the upside for further rally.

“The break of 1.0181 resistance indicates up trend resumption and further rise should be seen towards 61.8% projection of 0.8770 to 1.0181 from 0.9536 at 1.0408. On the downside, below 1.0110 minor support will turn intraday bias neutral and bring consolidations. But downside should be contained above 0.9830 support and bring another rise,” the realtime forex news site adds.

By ForexNewsNow Team

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