Forexpros Daily Analysis - 25/04/2011

ForexPros Daily Analysis April 25, 2011


Aud/usd made solid pull-back in recent sessions with a three wave retrace near to 1.0700 region. We must not ignore the larger trend, which is clearly up, so a current decline should be considered as a corrective move, with new highs yet to come. However, a little bit deeper pull-back is still possible, down towards 1.0650/80 region; previous fourth wave area before uptrend resumes.

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Forex Trading analysis written by Gregor Horvat for Forexpros.

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