AUDUSD Classic Technical Report 08.16.2012
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AUD/USD
Prices have stalled above support at 1.0443, the July 19 high, after slipping below the 1.05 figure. A break lower from here exposes rising channel support at 1.0374. Alternatively, a break back above 1.05 targets a long-term falling trend line set late July 2011, now at 1.0606.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to ispivak@dailyfx.com
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to ispivak@dailyfx.com
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