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AUDUSD: Bull Pressure Set For More Gains |
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Technical Archives |
Written by FXTechstrategy |
Sep 01 10 17:06 GMT
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AUDUSD: Bull Pressure Set For More Gains
AUDUSD: With a reversal of its Monday losses occurring today, further upside threats are now building up towards the 0.9078 level and beyond. On a violation of there, ways will open for a move higher towards the 0.9219 level followed by its May 04'10 high at 0.9265 with a clean penetration of that level clearing the way for more recovery towards its April 21'10 high at 0.9337 and then the 0.9404 level, its Nov'16'10 high. Its daily RSI is bullish and pointing higher supporting this view. Alternatively, on weakness the 0.8770 level will be targeted with a decisive break and hold below there aiming at the 0.8736 level and then the 0.8632 level, its July 19'10 low. Overall, having backed off lower prices, AUDUSD continues to retain its upside risk.
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About the AuthorMohammed Isah
Market Analyst
www.fxtechstrategy.com
This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are the author's own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which the author incur any responsibility. The does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report |
