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AUDUSD Analysis - January 30, 2010 |
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Forex Market Analysis |
Written by ForexCycle.com |
Saturday, 30 January 2010 03:41 GMT
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AUDUSD formed a cycle top at 0.9327 level on daily chart. Support at 0.8734 would be re-tested next week, a breakdown below this level will suggest deeper decline towards 0.8500 area. Resistance is at 0.9000, as long as this level holds, downtrend from 0.9327 will continue.
For long term analysis, AUDUSD has formed a cycle top at 0.9404 level on weekly chart. Fall towards 0.8500 area is expected in next several weeks.
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