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AUDUSD Classic Technical Report 08.10.2012

AUDUSD Classic Technical Report 08.10.2012

2012-08-10 05:38:00
Ilya Spivak, Head Strategist, APAC
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Prices are turning lower after putting in a Shooting Star candlestick below resistance at the top of a rising channel carved out since late June. A break below the 1.05 figure initially exposes 1.0443, with a break below that aiming for 1.0328. Alternatively, a reversal back above channel top resistance (now at 1.0627) targets 1.0636 and 1.0806.

AUDUSD_Classic_Technical_Report_08.10.2012_body_Picture_5.png, AUDUSD Classic Technical Report 08.10.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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

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