| AUD/USD - Approach of Parity then Retreat Posted: 14 Oct 2010 08:05 AM PDT  Price action on AUD/USD (a 4-hour chart of which is shown) as of Thursday (10/14/2010) broke out above 0.9900 resistance to reach a record high just shy of parity (1.0000) in early Thursday trading, before pulling back to re-test the point of breakout. This occurs within a strong and accelerated uptrend extending back to late August. For more technical analysis on this currency pair, please click here for Thursday’s (10/14/2010) 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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