Thursday, December 26, 2013

AUD/USD Loses Fight With 0.8925/03

Given that the resistance at 0.8925/03 denied an attempt of AUD/USD to rise further, the bearish channel (in place since Oct 23) retains its topicality. Accordingly, this substantially increases the probability of a new low appearing on the chart. This dip may also extend through the monthly S2 at 0.8746



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