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Forex4you Technical Analysis 5 August 2011
AUD/USD: technical analysis
Earlier forecasts, anticipating the change of sentiment in this pair towards the bearish confirmed. The price not only tested, but also managed to breach level 1.0590/1.0600, falling to a strong 1.0400/20 support range. Trading is currently carried out at level 1.0460/70. Indicators are turned down, suggesting further decline. At the same time, level 1.0400/20 has already proved to be rather strong, so it will be difficult for the price to pass through this barrier. In this case, it's worth considering a pullback upwards and consolidation within 1.0590
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