Possible AUDUSD Double Top

Published July 30th, 2009 - 01:46 GMT
Al Bawaba
Al Bawaba

AUDUSD weakness brings forth the possibility of an AUDUSD double top.  A top would not be confirmed until a daily close below Elliott channel support, which is at .7950 today (and reinforced by the 61.8% of the rally from .7700).  Still, RSI divergence at Monday's high warns of an important top.