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AUDUSD 10425/50 is Expected Resistance

AUDUSD 10425/50 is Expected Resistance

2012-03-28 22:33:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_aud-usd_body_audusd.png, AUDUSD 10425/50 is Expected Resistance

Prepared by Jamie Saettele, CMT

The AUDUSD finds itself at an important juncture defined by the 200 day average and trendline that extends off of the 2011 lows. As mentioned yesterday, the AUDUSD has lagged other ‘risk’ assets such as US equities and a lagging market is a vulnerable market. A break of 10335 would shift focus to former pivots at 10220 and 10150. 10425/50 is resistance.

Bottom Line (next 5 days) – lower

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