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Australian Dollar Technical Outlook

Friday, 18 April 2008 13:54:46 GMT

Written by Jamie Saettele, Currency Analyst

We proposed the idea that a triangle was unfolding yesterday and price action is confirming this suspicion so far. 

“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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