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Australian Dollar Technical Outlook

Tuesday, 02 December 2008 13:29:52 GMT

Written by Jamie Saettele, Senior Currency Strategist

There remains potential for a large recovery back to the mid .70s given the 5 wave drop from the top (waves a and b of an a-b-c correction would be close to complete). 

Bulls may attempt to ‘pick’ this bottom given that the AUDUSD has held above the October low.

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