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AUDUSD pulled back from 0.9444

Discussion in 'Technical Analysis' started by ForexCycle.com, Jun 25, 2014.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    Being contained by 0.9461 (Apr 10 high) resistance, AUDUSD pulled back from 0.9444, indicating that lengthier consolidation for the uptrend from 0.9208 is needed. Range trading between 0.9321 and 0.9444 would likely be seen in a couple o f days. Support is at 0.9321, as long as this level holds, the uptrend could be expected to resume, and another rise to test 0.9461 resistance is still possible. On the downside, a breakdown below 0.9321 support will indicate that the uptrend had completed at 0.9444 already, then deeper decline to 0.9240 area could be seen.


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