Joshua Shapiro, chief economist at MFR < David Resler, economist at Nomura Securities < Steve Goldman, market strategist at Weeden & Co. < Gary Thayer, chief economist with A.G. Edwards and Sons < Avery Shenfeld, senior economist at CIBC World Markets < Andrew Bekoff, chief investment strategist at Meyers Associates < C.J. Gavsie, director of corporate and institutional foreign exchange sales at the Bank of Montreal < Michael Gregory, analyst at BMO Capital Markets < Jose Manuel Gonzalez-Paramo, executive Board member at BCE < USD/CAD: Dollar weakened in early US session <

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Forex Center > News > Technicals

AUD/USD - Australian Dollar US Dollar, European Session - 23/07/08

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22 July 2008 @ 10:26 pm EST

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0,9693. AUD USD is in a consolidation after the last bearish movement. The price is just above 0,9690 support. The volatility is high. Bollinger bands are parallel and form the trend. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on AUD USD. The price should find a support above 0,9670 / 0,9690. If the support is broken then the target will be 0,9600. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances: 0,9735 - 0,9790
Supports: 0,9690 - 0,9670

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