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AUDUSD Slips after Friday Advance, Before RBA

By , Sr. Technical Strategist
30 April 2012 21:59 GMT

Daily Bars

eliottWaves_aud-usd_body_audusd.png, AUDUSD Slips after Friday Advance, Before RBA

Prepared by Jamie Saettele, CMT

The AUDUSD is nearly unchanged for April following last week’s late surge. As focused on last week, the inability of price to break lower at the early year opening range suggests that the path of least resistance is higher. 10540 (50% retracement of decline from 10855) and 10596 (former support) are now resistance. 10325 and 10350 are supports. Heads up, RBA is tonight.

Bottom Line (next 5 days) – ?

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30 April 2012 21:59 GMT