Forex Trader

First, take a look at very interesting monthy chart. AUD/USD broke previous support and low from May/June 2010. at 0.8060/80 and find a new low at 0.8033 fow now. As January is just started, we can’t see is this brake or fail for now. Let’s take a look the pair at smaller H4 chart.

As we can see here, the pair tested new low at 0.8030 level for two times already, but strong daily down trendline hold the pair on the way up for now. AUD/USD close the previous 3 days in a row at 0.8080 and it seams like the Aussie fight for reversal vs extremely strong us dollar. For sure, interesting pair for watching furder developments.