Wednesday, 4 May 2011

AUD/USD hourly

A move below the recent low of 1.0790 would break the up trend line formed from the mid March lows, and due to the bigger picture would raise the odds that the AUD/USD trend at larger degree had turned down. On the other hand, a move above the newly formed down trend channel and particularly the most recent high at 1.0877 would open the way for a re-test of 1.10.

Silver daily

Silver tested the lower trend line today. A move below today's low would confirm the end of the up trend.