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FOREX Technical Analysis: AUD/USD Continues to Press Against November High

By , Sr. Technical Strategist
29 November 2012 01:33 GMT

Daily Bars

FOREX_Technical_Analysis_AUDUSD_Continues_to_Press_Against_November_High_body_audusd.png, FOREX Technical Analysis: AUD/USD Continues to Press Against November High

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: “10550, the 9/14 reversal day close and 161.8% extension of 10287-10424, is a level that may produce the next top. It’s worth keeping in mind the longer term AUD/USD triangle, in which price probably declines towards parity or below in order to complete triangle wave E.” 10550 would be a level to short if reached.

FOREXTrading Strategy: Exceeding 10490 would delay anything bearish until probably 10550.

LEVELS: 10340 10375 10415 10465 10490 10550

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29 November 2012 01:33 GMT