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Thursday, May 20, 2010

AUD/USD - The decline is extending

The support near the 84 area only provided a minor correction. The next support area will be seen near 81.19, if we are going to see a correction from there we might just see a correction up to the 85.00 - 85.67 area before the next legg lower.

Remember the decline in AUD/USD can be very very steep just take a look at the chart to the left and see what happend in mid to late 2008.

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