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Elliott Wave Forecast For AUDUSD

Jul. 09, 2013 5:34 AM ET
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AUDUSD fell back to the lows on Friday but because of overlapping price action in the latest bearish waves and bullish divergence on the RSI we are still observing an ending diagonal placed in wave 5). We however could see another push down to 0.8900 before pair forms a bottom. On the other-hand, only rise back above 0.9250 will suggest that ending diagonal is complete (ALT count on the chart).


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