| AUD/USD - Near 0.9000 Resistance Posted: 26 Jul 2010 08:44 AM PDT  Price action on AUD/USD (a 4-hour chart of which is shown) as of Monday (7/26/2010) morning has just closely approached its key bullish resistance target of 0.9000, the potential for which was noted in last week's AUD/USD analysis. This reach towards resistance, which establishes a new 2+ month high, occurs within the context of an uptrend extending from the early July double-bottom low. For more technical analysis on this currency pair, please click here for Monday’s (7/26/2010) Chart of the Day.
James Chen, CTA, CMT * For information on my DVD set, High-Probability Trend Following in the Forex Market, please click here.
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