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AUDUSD stays below a downward trend line

Discussion in 'Technical Analysis' started by ForexCycle.com, Nov 13, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    AUDUSD stays below a downward trend line on 4-hour chart, and remains in downtrend from 0.9756, the rise from 0.9269 could be treated as consolidation of the downtrend. As long as the trend line resistance holds, the downtrend could be expected to resume, and one more fall towards 0.9000 is still possible. On the upside, a clear break above the trend line resistance will indicate that the downtrend from 0.9756 had completed at 0.9269 already, the the following upward movement could bring price to 1.0000 area.


    Provided by ForexCycle.com

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