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AUDUSD Analysis - August 12, 2012

Long Term Forex Analysis | by ForexCycle.com | Sunday, 12 August 2012 02:57 UTC
AUDUSD's upward movement from 0.9581 extends to as high as 1.0612. Further rise is still possible after a minor consolidation, and next target would be at 1.0700 area. Support is at the uptrend line on daily chart, as long as the trend line support holds, uptrend will continue.

For long term analysis, AUDUSD has formed a cycle bottom at 0.9581 on weekly chart. Further rise towards 1.0800 is expected over the next several months.

audusd daily chart

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