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AUDUSD breaks above falling price channel

Discussion in 'Technical Analysis' started by ForexCycle.com, Jan 25, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    AUDUSD break above the falling price channel on 4-hour chart, suggesting that a short term cycle bottom is being formed at 0.8982 and the fall from 0.9327 has completed. Bounce to 0.9160 area to reach next cycle top is expected in a couple of days. Support is at 0.8982, only fall below this level could indicate that the fall from 0.9327 has resumed, then another decline could be seen to 0.8900 zone.


    Daily Forex Analysis

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