AUDUSD remains in bullish movement
AUDUSD remains in bullish movement and the uptrend from 0.6284 extends to as high as 0.8014 level. Further rally is still possible next week and target would be at 0.8200-0.8300 area. Near term support is at 0.7700, and key support is located at 0.7449, only fall below this level will indicate that the uptrend from 0.6284 has completed. For long term analysis, AUDUSD has formed a cycle bottom at 0.6008 (2008 low) level on monthly chart. Further rise to 0.8300-0.8500 area is expected.
The Stock Index Report
Directionless, but it didn’t last Shrinking volatility and tight ranges in the equity index futures have left us with butterflies in our stomachs. The bulls and bears have been battling throughout May without a resolution. We have essentially watched the S&P trade in a 55 point range that was carved out early in the month. As boring as things have become, we can’t help but feel as though June will be a different story. If the last 20 minutes of trade in May is any indication of things to