AUD/USD Technical Analysis for April 20, 2011

The AUD/USD continues to show strength today as it hangs around the 1.0550 area. It seems that every time the pair falls, it simply refuses to do so in any significant manner. Because of this, it is a buy only market, and all pullbacks are simply an excuse to buy. Our original consolidation measurement had us going to 1.07 from a few weeks ago. There is simply nothing that suggests we aren’t going to sooner or later.

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