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AUDUSD Classic Technical Report 07.27.2012

AUDUSD Classic Technical Report 07.27.2012

Ilya Spivak, Head Strategist, APAC

Prices are approaching resistance at 1.0473 marked by the April 27 high and the top of a rising channel carved out since late June. A break higher exposes the next major upside barrier at 1.0636. Near-term support is in the 1.0225-1.0313 area.

AUDUSD_Classic_Technical_Report_07.27.2012_body_Picture_5.png, AUDUSD Classic Technical Report 07.27.2012

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.