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AUD/USD Technical Analysis August 4, 2011

posted by Avatar FXEmpire 657 days ago in USD, AUD, Technical

The AUD/USD pair fell, and then bounced on Wednesday to form a hammer. This is a very bullish sign, and since it is basically at the 1.0750 area – it is at the right place as well. If we can break the highs for Wednesday, this would be a classic buy signal. If we break the lows – we will see 1.05 sooner, rather than later. The trend is up, so a buy
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