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Australian Dollar Technical Outlook

Thursday, 17 April 2008 14:28:17 GMT

Written by Jamie Saettele, Currency Analyst

Short term AUDUSD price action has been difficult to decipher recently.  This in and of itself suggests that the AUDUSD is in a large correction.  

The structure of the down-up sequence since February, it is possible that a triangle is unfolding.  Under this interpretation, the pair would decline into .91 or so over the next few weeks but in a choppy manner.

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