AUD/USD Technical Analysis for July 15, 2011

The AUD/USD pair fell today, and the 1.08 level has held as resistance. Although this is bearish action, the trend is very clearly up against the Dollar, and we feel that the trend will continue. We like the idea of buying on dips, and believe that the market should find support at 1.07, 1.05, and 1.02 levels.

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Forex Mansion