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Forex Flash: AUD technical outlook confused – BBH

By FXstreet.com,  January 07, 2013, 06:29:00 AM EDT

FXstreet.com (Barcelona) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman notes that the huge rally on Wednesday was nearly completely retraced by Friday morning, confusing the near-term technical outlook.

He continues to explain that regardless, the strong before the weekend and the fact that the $1.04 area largely held on the pull back, inclines us to look for follow through gains in the days ahead. The $1.0530 area may offer resistance on the way back to test $1.0600.




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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