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AUDUSD Weekly Analysis - February 22, 2015

Long Term Forex Analysis | by ForexCycle.com | Sunday, 22 February 2015 13:11 UTC
AUDUSD stays below the downward trend line on daily chart, and remains in downtrend from 0.9504 (Jul 1, 2014 high). As long as the trend line resistance holds, the rise from 0.7625 could be treated as consolidation of the downtrend, and another fall to 0.7000 area is still possible. Only a clear break above the trend line resistance could signal completion of the downtrend.

audusd chart

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