As you can see from the following trade alert for AUD/USD, this pair recently turned up from the lower trendline of the hourly Down Channel chart pattern identified by Autochartist. Expect the pair to rise to the target level 0.9826 in 2 trading days. The stop level for this alert is set at 0.9593 (point A, which is the bottom of this chart pattern). This point was formed earlier when AUD/USD reversed sharply up from the support area embracing the major support level 0.9600 coinciding with the 50% Fibonacci Correction of the previous weekly upward price thrust from May of 2010. The pair is expected to break this Down Channel and to reach the target level 0.9826 in 2 days.



The weekly AUD/USD chart below highlights the aforementioned support levels:




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