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AUD/USD Poised for Breakout

AUD/USD (a 4-hour chart of which is shown) as of Tuesday (11/09/2010) has consolidated near the multi-decade highs just below key 1.0200 resistance, and appears poised for a potential breakout to the upside. In this event, the key level to watch is 1.0200, a breakout above which price action will have confirmed an uptrend continuation. For more AUD/USD forex technical analysis, please click here.

James Chen, CTA, CMT