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AUDUSD Classic Technical Report 07.26.2012

AUDUSD Classic Technical Report 07.26.2012

Ilya Spivak, Head Strategist, APAC

Prices rebounded from support at 1.0225, marked by the April 11 low and the bottom of a rising channel carved out since late June, to retest resistance at 1.0313. A break higher exposes 1.0473. Alternatively, a push lower through 1.0225 initially targets swing lows at 1.0099 and 0.9968.

AUDUSD_Classic_Technical_Report_07.26.2012_body_Picture_5.png, AUDUSD Classic Technical Report 07.26.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.