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AUDUSD is facing 1.0480 resistance

Discussion in 'Technical Analysis' started by ForexCycle.com, Nov 25, 2012.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    AUDUSD is facing 1.0480 resistance, a break above this level will confirm that the uptrend from 1.0149 (Oct 8 low) has resumed, then further rise towards 1.0550 could be seen. Support is at the upward trend line on 4-hour chart, only a clear break below the trend line will suggest that lengthier consolidation of the uptrend is underway, then sideways movement in a rang between 1.0287 and 1.0480 could be seen.

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