AUD/USD Technical Analysis for July 14, 2011

The AUD/USD pair rose on Wednesday and shows signs of wanting to break to new levels. The recent high at 1.08 held during the session, but it must be said that the candle for the day is long and green. This suggests that the bullish momentum may be building, and we could see a breakout coming. We like buying dips as well as any close above 1.08 as it would signal a new leg up.

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Forex Mansion