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Tuesday, December 15, 2009

AUD/USD - Minor wave (iii) to gain momentum soon



After the very bearish failure break above the light green upper resistance line of the Andrew Pitchfork minor wave (iii) should soon gather momentum as is breaks below the small support line near 90.64 looking for a possible target near 87.49.

Sell this break with a stop just above minor wave (ii) at 91.73, which should make a very nice risk/reward trade.

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