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AUDUSD continues its downward movement from 1.0182

Discussion in 'Technical Analysis' started by ForexCycle.com, Nov 16, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
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    AUDUSD continues its downward movement from 1.0182 and the fall extended to as low as 0.9724 level. Deeper decline towards 0.9651 key support is still possible later today, a breakdown below this level will suggest that the long term uptrend from 0.8066 (May 25 low) has completed at 1.0182 already, then the following downward move could bring price to 0.9000 or even lower. Resistance is at 0.9919, only break above this level could indicate that the fall from 1.0182 has completed, then another rise towards 1.0182 previous high could be seen.


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