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Forex: AUD/USD moves off 6-month low

26.05.12

From a mechanical view, "Upside stays capped at 0.9880 zone for now, with descending 55 day EMA limiting healing attempts and keeping the downside pressure", said Slobodan Drvenica, analyst at Windsor Brokers Ltd. "As larger exact replica maintains firm bearish tone and brand-new losses acceleration after break below significant supports at 1.0225 and par level, short-term focus lies at 0.9662, Nov 2011 low, after the double broke below the last barrier at 0.9880/60 zone".

[ Via: NASDAQ | Read more... ]

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