AUD/USD: Moving Sideways with Wild Swings
AUD/USD made sharp reversals on 20 September and 21 September. Monitor the implied support at 1.0368 and the implied resistance at 1.0519 (21/09/2012 high).
The proximity of the down trendline favours a significant phase of weakness. However, should a break to the upside out of the symmetrical triangle occur, it would force us to review our strategy.