Technicals | Sep 13 2011
AUD/USD Classical Technical Report
By Joel Kruger, Technical Strategist
AUD/USD: It looks as though a major lower top is in the process of carving out by 1.0765, with the market rolling sharply over the past several days and breaking back below the 200-Day SMA. From here, look for continued depreciation towards the recent range lows at 0.9925, with a break below to open the door for the next major downside extension. In the interim, any interday rallies should now be well capped below 1.0600.
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