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Australian Dollar Closing in on September High

Australian Dollar Closing in on September High

2011-10-27 15:43:00
Jamie Saettele, CMT, Sr. Technical Strategist
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300 Minute Bars

eliottWaves_aud-usd_body_audusd.png, Australian Dollar Closing in on September High

Prepared by Jamie Saettele, CMT

The AUDUSD, also known as the freight train, is close to taking out its September high of 10764! A Fibonacci extension also rests at 10724. An extended advance above the August high of 11078 cannot be dismissed as the decline from that level is left as a 3 wave drop. Near term support is 10610 and 10550.

Trend Strength (M,W,D) – (1), 0, 1

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