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AUDUSD remains in downtrend from 1.0597

Discussion in 'Technical Analysis' started by ForexCycle.com, Feb 3, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    AUDUSD remains in downtrend from 1.0597, the price action in the trading range between 1.0360 and 1.0475 is likely consolidation of the downtrend. Another fall could be expected after consolidation, and next target would be at 1.0300 area. On the upside, a break above 1.0475 will suggest that a cycle bottom had been formed at 1.0360 on 4-hour chart, and the downward movement from 1.0597 had completed, then further rise towards 1.0700 could be seen.


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