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Aud/Usd: Trend-line Test; Recovery Underway

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June 05 2012

Aussie moved lower in the past week as expected, and hit a projected Fibo ratio; 2.00 x wave (1) before reversed to the upside. Notice that current recovery is now already testing falling EW channel resistance line, where a breakout will definitely put wave (4) into action. We will be tracking a three wave rise from the most recent lows, before we may continue to look to the downisde.




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