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Old 19-12-2013, 14:25
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Default Re: Market news and trade recommendations by FBS

AUD/USD

AUD/USD renewed this yearís low by sliding to $0.8821. Aussie was already quite oversold, so here we didnít see such a big decline as in other pairs.

The pair is at the lower Bollinger band and thereís still a small divergence in MACD/RSI, so we expect some correction up.
All MAs are declining that indicates that a medium-term downtrend is well in place.
The prices are below the bearish Ichimoku Cloud. The indicator lines went horizontal, so we may see some consolidation.
Support: $0.8820, $0.8800, $0.8755

Resistance: $0.8880, $0.8900, $0.8970, $0.9000


Chart. H4 AUD/USD

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