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AUDUSD is facing channel resistance

Discussion in 'Technical Analysis' started by ForexCycle.com, Nov 17, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    AUDUSD is facing the resistance of the upper line of the price channel on 4-hour chart, as long as the channel resistance holds, the downtrend could be expected to resume, and one more fall towards 0.9000 is still possible. One the upside, a clear break above the channel resistance will suggest that the downtrend from 0.9756 had completed at 0.9269 already, then the following upward movement could bring price to 1.0000 zone.


    Provided by ForexCycle.com

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