AUD/USD (daily chart) has again turned up in what may be yet another potential approach of the 1.0600 level. The 1.0600 price region has served as among the key resistance levels for the past five months, as the pair has reached or approached the level at least four times since August 2012, and has failed to make a daily close above it each time. After each failure to breach, price has turned down to form a general half-year trading range between the 1.0150 support level and the noted 1.0600 resistance level. With such strong recent historical resistance at 1.0600, this level can be considered the price to watch for any subsequent breaches or failures to breach. In the event of a significant breakout and close above the 1.0600 level, which would confirm a continuation of the entrenched bullish trend from the June 2012 0.9581 low, price could move towards further potential resistance to the upside around the key 1.0750 and then 1.0850 levels. To the downside, in the event of yet another failure at or around 1.0600, price could move back towards potential support around the 1.0350 price region, which is the area of the last major correction low in late December. James Chen, CMT Chief Technical Strategist FX Solutions Forex trading involves a substantial risk of loss and is not suitable for all investors. FX Solutions LLC (“FXS”) is compensated through a portion of the bid/ask spread. This information is being provided only for general market commentary (based on technical analysis) and does not constitute investment trading advice. Certain information contained herein has been obtained from sources that FXS believes to be reliable; however, FXS cannot guarantee the accuracy of such information, assure its completeness, or warrant such information will not be changed. The information contained herein is subject to change without notice. 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FXS does not endorse nor is it responsible for any third-party posts related to this material. James Chen James Chen James Chen is Chief Technical Strategist for City Index Group. He is also a Chartered Market Technician. He is the author of the books: "Essentials of Foreign Exchange Trading" (John Wiley & Sons, 2009) and "Essentials of Technical Analysis for Financial Markets" (John Wiley & Sons, 2010). Mr. Chen writes currency analysis, leads forex trading seminars and has appeared in numerous major financial media outlets, including CNBC, Bloomberg TV, Forbes, Reuters, Dow Jones, and the Associated Press. View All Post By James Chen Forex News Today: Daily Trading News share Read Next JPY Strengthening, Euro Buying Enthusiasm Somewhat Lost Matthew Lifson 10 years AUD/USD (daily chart) has again turned up in what may be yet another potential approach of the 1.0600 level. The 1.0600 price region has served as among the key resistance levels for the past five months, as the pair has reached or approached the level at least four times since August 2012, and has failed to make a daily close above it each time. After each failure to breach, price has turned down to form a general half-year trading range between the 1.0150 support level and the noted 1.0600 resistance level. 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