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AUD/USD Record High Near Parity, Then Pullback

AUD/USD (a 4-hour chart of which is shown) as of Thursday (10/14/2010) broke out above 0.9900 resistance to reach a record high just shy of parity (1.0000) in early Thursday trading, before pulling back to re-test the point of breakout. This occurs within a strong and accelerated uptrend extending back to late August. For more AUD/USD forex technical analysis, please click here.

James Chen, CTA, CMT