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AUDUSD: Outlook Higher Towards The 0.9077 Level |
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Technical Archives |
Written by FXTechstrategy |
Jul 27 10 14:55 GMT
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AUDUSD: Outlook Higher Towards The 0.9077 Level
AUDUSD: With a continuation of its short term resumption and a higher close established on Monday, further strength is expected towards its May 10'10 high at 0.9077. While the pair holds above the 0.9000 level, its psycho level, we look for a retarget of the 0.9077 level and possibly higher. Alternatively, if a return below the 0.9000 level occurs, its violated resistance at the 0.8858/69 level will be aimed at where a reversal of roles is likely to occur and turn it higher again. Other supports are located at the 0.8736 level and the 0.8632 level, its July 19'10 low followed by the 0.8500/65 zone with a breach targeting the 0.8314 level, its July 01'10 low. We expect this level to provide a strong support and turn the pair higher if tested.
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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 |
