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Aussie Is Approaching 0.9800 Support

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Dec 19 2011

Aussie extended loses deeply into a wave E) in the past week, below 0.9900 level. As such, we need to keep in mind that pair could be trading in final stages of wave E) pull-back, especially after reaching 61.8% retracement area. An impulsive reversal from the lows and through 1.0163 resistance will definitely confirm a bullish case. For now however trend is still down, but must not fall below 0.9550 critical region!



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