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Sunday, August 1, 2010

AUDUSD Weekly Candle


Last weeks action was contained in a 170 pip range ending with a close near the top of the range.
Another month has also closed and it has ended with a bullish candle.
A glance at the monthly shows that price is only 350pips from 2009 and 2010 highs of around .9400
Those previous highs may be met with strong resistance. Watch price action for clues.

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This is not a recommendation to trade.

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