Technicals | Jul 07 2011
By Jamie Saettele
“The AUDUSD may be headed for fresh highs above 11000 in the coming month(s) (in a 5th wave).” I wrote last week that “a pop through 10775 should result in a pullback, which ideally proves corrective. Support would then be 10600/50.” 10775 was reached late last week and initial support has been reached at 10673. 10590/10600 should prove formidable if reached (former resistance and 50% retracement). A bearish alternate is shown but impulsive weakness from 10789 is required in order for this count to gain traction.
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