04th Oct - AUD/USD Unable to Pierce Resistance
04 October 2012
WEEKLY CHART:
See how the recent recovery, from above support coming from the old 0.9405 Nov-09 high area, has been unable to overcome resistance from the old bull channel base.
DAILY CHART:
The 76.4% resistance area has twice repelled a bull attack, and latest reversal has seen the market return to support from the 1.0162 05-Sep low. A break below this would sideline any bulls and suggest this year’s recovery was over.
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