AUD/USD (a daily chart of which is shown) as of Thursday (1/06/2011) has reached down to approach the bottom border of a key parallel uptrend channel that extends back to the early June 2010 lows. This occurs after price established a new multi-decade high around 1.0250 on New Year’s Eve. For more AUD/USD forex technical analysis, please click here.
James Chen, CTA, CMT
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