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Forex Trading Technical Analysis (2010/08/13) AUD/USD Potential Flag Pattern

AUD/USD (a 4-hour chart of which is shown) as of Friday (8/13/2010) morning has formed what could potentially be an inverted flag pattern, a consolidation/continuation pattern that often occurs in the midst of a bearish move like what AUD/USD has been experiencing for most of this week. For more AUD/USD technical analysis, please click here.

James Chen, CTA, CMT