AUDUSD Upward Trend

Written by megatrade101 | 11 July 2010

AUDUSD Upward Trend
YouTube URL: http://www.youtube.com/watch?v=loiY0nGkY-o

This video supports our market View analysis dated the week of July 9, 2010.
The 4 comparative charts on the Aussie dollar shows why a long position taken before the week ending the 9th of July supported our market view analysis.

The moving average of 0.8350+/- level was the appropriate entry for this trade since the established low was at the 0.8080 which would have been a substantial tolerance although, the higher bottom price movements where encouraging inspite of the negative sentiments in the market. The corrective phase of the USX below the 85.20 has been the factor that the signal for the other European currencies were in the phase of a correction to move higher.

But still would not be called a true reversal, but some analyst have already called it a complete reversal period. As long as the USDX remains below the psychological price of 85.20 and 84.60 then the continuation for the US dollar to move lower would prevail overall in the market prompting the Aussie and the Kiwi to move higher and the rest followed suit.

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