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Old 23-12-2013, 13:52
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Default Re: Market news and trade recommendations by FBS

FX BAZOOKA: technicals (Dec. 23)

AUD/USD


AUD/USD recovered to $0.8950.

The pair returned to the upper Bollinger band and approached 55-period MA.

All MAs keep declining that indicates that a medium-term downtrend is well in place.

The prices are below the bearish Ichimoku Cloud. However, the Cloud stopped expanding, while Tenkan and Kijun formed a golden cross, weak as it is below the Cloud. Still these lines provide support ($0.8900).

MACD has reached the 0 area on its way up. RSI rose almost to 60.

There will be no news from Australia to help Aussie extend upward correction.
Resistance: $0.8970, $.8990/9000, $0.9040
Support: $0.8900, $0.8820, $0.8800, $0.8755


Chart. H4 AUD/USD

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