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June 24th, 2009, 4:37 am | By forexcycle | Published in Daily Technical | Comments on this postNo Comments »

After breaking below 0.7827 support, AUDUSD rebounded from 0.7789 level. The pair might be forming a short term cycle bottom on 4-hour chart. Key resistance is locate at 0.8118, a break above this level will indicate that the medium term uptrend from 0.6284 has resumed, then the next target would be at 0.8500-0.8600 area.

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forexcycle Forex Cycle. See more Forex Analysis from forex cycle.

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