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AUDUSD RBA Reaction May Provide Opportunity

AUDUSD RBA Reaction May Provide Opportunity

2012-10-01 21:02:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_aud-usd_body_audusd.png, AUDUSD RBA Reaction May Provide Opportunity

Prepared by Jamie Saettele, CMT

The AUDUSD is holding the 61.8% of the advance from 10163 so be careful about chasing shorts at the current level. RBA is tonight, thus the fact that this level is holding is of even more interest. A positive reaction would face interim resistance at 10440 but the high risk level for bulls is above 10500. 10510/18 is the 61.8% retracement of the decline from 10624 and 9/21 high. Interim support comes in at 10280.

LEVELS: 10165 10280 10325 10402 10440 10510

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