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AUDUSD breaks above the down trend line resistance

Discussion in 'Commodity vs Dollar' started by ForexCycle.com, Sep 7, 2008.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    AUDUSD breaks above the down trend line resistance and formed a short term cycle bottom at 0.8029 on 4H chart. Rise to test 0.8403 resistance is expected later today, a break of this level will indicate that the fall from 0.8812 has completed and further rally towards 0.8600 zone could be seen. Near term support is at 0.8029, only fall below this level will signal deeper decline to 0.7800 level.

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