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AUD/USD and NZD/USD Break Above Trendlines to Signal Bullish Reversal

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Old 17-03-2012, 04:53 AM
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Default AUD/USD and NZD/USD Break Above Trendlines to Signal Bullish Reversal

The 4H AUD/USD chart shows the market in a sharp breakout above a declining trendline going back to the highs in late Feburary at 1.0855. The RSI in the 4H chart broke above 60, an initial sign that the bearish momentum is lost. Still, price action should break above 1.06

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