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AUD/USD Classical 05.18

AUD/USD Classical 05.18

2010-05-18 05:41:00
Joel Kruger, Technical Strategist
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AUD/USD: The market has fallen apart since failing to clear barriers by 0.9400, with setbacks now accelerating below 0.9000 and 0.8800 to put the focus on a major platform base by the 2010 lows at 0.8580. Monday’s break below 0.8740 now confirms a lower top in place by 0.9080 and exposes a direct retest of 0.8580 over the coming sessions.  Only back above 0.9080 negates and gives reason for pause.

 

Written by Joel Kruger, Technical Currency Strategist for DailyFX.com 

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