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AUDUSD stays above a upward trend line

Discussion in 'Technical Analysis' started by ForexCycle.com, Nov 11, 2012.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    AUDUSD stays above a upward trend line on 4-hour chart, and remains in uptrend from 1.0236. Key support is at the trend line, as long as the trend line support holds, the fall from 1.0480 could be treated as consolidation of the uptrend, and one more rise towards 1.0500 is still possible after consolidation. However, a clear break below the trend line will indicate that the uptrend from 1.0236 had completed at 1.0480 already, then further decline to 1.0200 area could be expected.

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