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AUDUSD continues its upward movement

Discussion in 'Technical Analysis' started by ForexCycle.com, Sep 26, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    After consolidation, AUDUSD continues its upward movement from 0.8771 and reaches as high as 0.9622 level. Further rise is still possible in a couple of days and next target would be at 0.9700-0.9750 area. Key support is now at 0.9462, as long as this level holds, uptrend could b expected to continue. However, a breakdown below 0.9462 will indicate that a cycle top has been formed on 4-hour chart, then pullback to 0.9300 area could be seen to follow.


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