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AUDUSD’s upward movement extends to 1.0079

Discussion in 'Technical Analysis' started by ForexCycle.com, Dec 27, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    AUDUSD’s upward movement from 0.9830 extends further to as high as 1.0079 level. As long as 0.9987 support holds, uptrend is expected to continue and next target would be at 1.0110 area. On the downside, below 0.9987 will indicate that a cycle top has been formed on 4-hour chart, and the rise from 0.9830 has completed, then the following bearish movement could bring price back to 0.9600-0.9700 area.

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