Chart of interest: AUD/USD end 30-AUG-2007
August 31, 2007 – 7:04 amWinter doesn’t seem to be over yet for Aussie dollar. It takes another week or so to see if a higher low can be formed and resume it’s uptrend. It just failed to close above 200-day moving average, while weekly, it is stuck between the zone 20-week and 50-week average. I am not turning bearish right away, though it does look ugly for bulls now. I am watching the support around the area of 0.865.
From the desk of Tradergav.com
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