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AUD/USD: Moving Sideways with Wild Swings

By - Sep 24, 2012, 5:13 AM CDT

AUD/USD made sharp reversals on 20 September and 21 September. Monitor the implied support at 1.0368 and the implied resistance at 1.0519 (21/09/2012 high).

The proximity of the down trendline favours a significant phase of weakness. However, should a break to the upside out of the symmetrical triangle occur, it would force us to review our strategy.

Daily Technical Report