Forex Strategies
AUDUSD: Channel Break Exposes 1.07
Strategy: Flat AUDUSD has taken out resistance at the upper boundary of a rising channel set from early November, pointing to acceleration of the bullish trend ahead. Initial resistance lines up at 1.0705, the 200% Fibonacci extension of the April-May 2010 selloff. Negative RSI divergence continues to warn of fading bullish momentum however and we will remain on the sidelines for now. To discuss …
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