Forex: AUD/USD: Aussie rally capped right below 0.9328 resistance

Tue, Nov 10 2009, 08:47 GMT
http://www.fxstreet.com

FXstreet.com (Barcelona) - Australian Dollar rally from Nov 2 low at 0.8915 has been capped on early Asian session at 0.9325, right below October 21 high at 93.28, and the Pair has pulled down to 92.55 level, which is suffering under selling pressure at the moment of writing.

On the hourly charts, the outlook temains bullish while above 0.9225/0.9165, according to Rajoo C, technical analyst at Precise Trader: "The Hourly is in a Range trading and 9330-45 are the immediate barriers for the bulls, the price should not trade below 9225-9165 to maintain the bullish outlook."

Daily trend is bullish while support at 0.8980 remains intact, says Rajoo C: "Daily Trend is Sideways Up while 8980 holds, so expect the price to be Choppy with a Upside bias."

AUD/USD (Nov 10 at 09:14 GMT)

0.9282/88 (-0.14%)

H 0.9323 L 0.9252

S3	S2	S1	R1	R2	R3
0.9223	0.9246	0.9270	0.9286	0.9309	0.9332

[?]Trend Index	[?]OB/OS Index
Slightly Bullish	Neutral
Data updated on Nov 10 at 09:10 (15-minute timeframe)