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Forex Trading Technical Analysis (2010/07/22) AUD/USD Breaks Triple Top and Targets 0.9000

AUD/USD (a 4-hour chart of which is shown) as of Thursday (7/22/2010) has broken out above the 0.8850 triple top high that was described yesterday .  After breakout, price rose around 100 pips above the breakout at its height, as of this writing, with key upside resistance at 0.9000 clearly in sight. For more AUD/USD technical analysis, please click here.

(Price on 1st pane, Slow Stochastics on 2nd pane; horizontal support/resistance levels in yellow; uptrend lines in green; downtrend lines in red; chart patterns in white; 50-period simple moving average in light blue.)

James Chen, CTA, CMT