Home  Long Term Forex Analysis AUDUSD Analysis - Aug 2, 2008
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AUDUSD Analysis - Aug 2, 2008 |
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Written by ForexCycle.com
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Friday, 01 August 2008 |
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AUDUSD drops sharply to as low as 0.9285 level. Further fall towards 0.8953 (Mar 20 low) is still possible. Initial resistance is now at 0.9475, only rise above this level will turn price back to up trend.
For long term analysis, AUDUSD broke below 0.9327 key support and formed a cycle top at 0.9849 on weekly chart. Deeper decline to 0.8750 is expected.
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