AUD/USD Bears gathering strenght

16 August 2010 @ 03:34 am EDT

Trading Scenario: We mentioned in our earlier analysis that 0.9030 could be a potential selling opportunity targeting 0.9025 & 0.8850. AUDUSD extended to downside from 0.9033 to 0.8925 initially and today it has hit the support 0.8855 which we mentioned and bouned off that level. It is now currently trading at 0.8930 which is our initial resistance on this pair.

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