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Forex Trading Technical Analysis (2010/08/10) AUD/USD Breaks Down Trendline

AUD/USD (a 4-hour chart of which is shown) broke down below a key uptrend support line on Monday, much like EUR/USD did during early Asian trading hours on Tuesday. In the case of AUD/USD, its uptrend line is a considerably precise and well-formed one that extends back to the double-bottom low hit in early July. For more AUD/USD technical analysis, please click here.

James Chen, CTA, CMT