AUDUSD 2010-06-25 Analysis

(Technical analysis done by Eric Lye in our Forex Trading Blog.  The purpose is to share how we analyze the market and put ourselves on the side of higher probability of things happening.)


Below is our view on AUDUSD.  Look for the setup, and make sure the price confirm the view and manage the trade as it goes.  For the past two days, I have been illustrating the use of trend lines to look at trade direction and timing of possible setup and entries.

[1pm (0500 GMT) Update]
Support broke.  Have to re-analyze this pair.


[Follow up]
Support eventually formed during US session