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EURUSD, AUDUSD technical outlook 08-21-09

posted by Avatar liviuf 1798 days ago in EUR, AUD, Technical made popular 1797 days ago

Yesterday’s consolidation raises question marks over current bias as the consolidation range could be a recurrent pattern as seen on the 4 hrs chart below. Since we have no clear breakout on the falling trend-line coming from 1.4445, bulls should be cautious as intra-day momentum already lost the strength accumulated on last rally from 1.4100.
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