Australian Dollar / US Dollar 03-08
The AUDUSD is nearing 9148, which is where the rally from 8796 would sport 2 equal legs. 9170 would be additional resistance. 9050 is potential short term support. A drop below 8974 is needed in order to suggest that the larger trend has turned back down.
Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Friday evenings), technical analysis of currency crosses on Monday, Wednesday, and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forum. He is the author of Sentiment in the Forex Market. Follow his intraday market commentary and trades at DailyFX Forex Stream. Send requests to receive his reports via email to email@example.com.
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