Currencies | Aug 23 2011
Australian Dollar Downside Still Favoured Below 10600
By Jamie Saettele
I expect a test of the recent low of 9928 and potentially extended weakness towards 9500. This next drop is expected to give way to a more important low that holds for at least several months. Of note is the intersection of the 100% extension and corrective channel at 9469 on 8/25. Price ideally stays below 10602.
The views expressed are not FNArena's (see our disclaimer).
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