[m.youssif]

AUDUSD Forecast
The AUDUSD was indecisive on Friday, made a Doji on daily chart. The bias is neutral in nearest term but still within the context of a bearish correction phase after made a new all time high at 1.0256 on the last day of 2010. Immediate resistance at 0.9987 followed by 1.0075. Break above 1.0075 could end the short term bearish correction phase re-testing 1.0182 – 1.0256 historical high levels. Initial support at 0.9900. Clear break below that area could trigger further bearish correction continuation testing 0.9860 – 0.9830 support area before testing 0.9750 area.

[m.youssif]

AUDUSD Forecast
The AUDUSD was indecisive on Friday, made a Doji on daily chart. The bias is neutral in nearest term but still within the context of a bearish correction phase after made a new all time high at 1.0256 on the last day of 2010. Immediate resistance at 0.9987 followed by 1.0075. Break above 1.0075 could end the short term bearish correction phase re-testing 1.0182 – 1.0256 historical high levels. Initial support at 0.9900. Clear break below that area could trigger further bearish correction continuation testing 0.9860 – 0.9830 support area before testing 0.9750 area.