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Forex Trading: AUD/USD shows good trend

Monday 28th of February 2005 11:22:42 PM

Forex Trading:

The Australian dollar has been a powerhouse. And no wonder, they are very resource rich country. It appears that currently the AUD/USD is doing a retest of .7900 level .
Near term chart looks quite attractive to me. Up sloping arc trendline showing demand and possible cup and handle?

For now must still consider this strictly a retest of .7900 and make no assumptions. However if arc trendline support holds, then possibility exists of breakout of .7900 level.

the chart is shown below:

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Posted by: Tom in Forex Trading | Comments [RSS 2.0]
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