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Forex: EUR/AUD downtrend intact

By FXstreet.com,  August 09, 2012, 03:33:00 PM EDT

FXstreet.com (San Francisco) - The EUR/AUD fell to fresh weekly lows, reaching 1.1611 before slight bounce back into the 1.1620 area where its sits in late North American trade.

At current levels, the pair is poised to end the global day with a 0.9% loss. To the downside, support lies at 1.1575 (3 Aug low). On the one-hour chart, the 21 EMA may cap rallies in the session ahead, last at 1.1650. Above there, further resistance is noted at 1.1680 (55-hourly EMA).




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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