The following is the Daily chart of AUDUSD via IGMArkets/ITFinance charts.
On the right hand side of this chart are a bunch of levels marked with thin horizontal line segments that I see as potential limits or targets for the current uptrend...
The lowest line, highlighted by the Blue Horizontal arrow, is based on an equal measure move/repeating range of the run from oct '08 through to June 09.
Next line up is based on the 261.8 fib extension from the first wave of the CURRENT uptrend (startedJun '10), and the one above coincides with an interesting set of parallel lines or channels (thin Purple) that seem to fit well with historical price action...
Does not necessarily mean much but there does appear to be a bit of clustering of potential highs around here.
Needs more work and I hope to delve into lower timespans over time... but gap trades should open soon so have to move onto them for the moment.
;)
AUD
unknown
dauily chart and poss upside targets audusd
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