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AUDUSD broke below price channel

Discussion in 'Technical Analysis' started by ForexCycle.com, Sep 23, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    AUDUSD broke below the lower border of the rising price channel on 4-hour chart, suggesting that consolidation of uptrend is underway. Sideways movement in a range between 0.9430 and 0.9599 would more likely be seen. As long as 0.9330 key support holds, uptrend is expected to resume, and another rise to 0.9700-0.9750 area is still possible.

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