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AUDUSD remains in downtrend from 1.0255

Discussion in 'Technical Analysis' started by ForexCycle.com, Jan 10, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    AUDUSD remains in downtrend from 1.0255 and the fall extends to as low as 0.9856 level. Deeper decline is still possible in a couple of days and next target would be at 0.9700-0.9750 area. Resistance is at 0.9991, only break above this level could indicate that a cycle bottom has been formed on 4-hour chart, then sideways consolidation could be seen.


    Written by ForexCycle.com

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