Australian Dollar Nearing Measured Resistance at 10105
240 Minute Bars
Prepared by Jamie Saettele
After plummeting to start 2011, the AUDUSD has traded sideways since. Based on the impulsive decline from the December high and the corrective action since the January low, I do remain bearish. Levels to watch for resistance are 10105 (100% extension of the 9803-10076 rally) and the corrective channel line (red dashed line).
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