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AUD/USD Falls Off Uptrend Channel

posted by Avatar jameschen 501 days ago in USD, AUD, Technical

AUD/USD (a daily chart of which is shown) as of Tuesday (1/11/2011) has dropped to break down below a key parallel uptrend channel extending back to the June 2010 lows. This price drop follows on the heels of a significantly bearish trend that has been in place since the beginning of the new year last week.
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