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Another Day, Another Rally…

Posted on June 2, 2009 at 21:30 in Trading Desk by Ryan O'Keefe

Howdy folks!

Another day, another loss for Dollar. I don’t have much to point out on the long term view. The Dollar beat down trend is still in charge after today’s price action was in the books and since I’m not on the party train there isn’t much to talk about today.

AUD/USD looks on it’s way to test $.8400 which has some interesting price action associated with it and is 61.8% of the move down from $0.9950, an interesting zone to watch for sure.

Tomorrow we see payroll numbers from the ADP Employment Change report. This is either going to help fuel or fizzel the Dollar smack down ahead of Friday’s NFP report so for now, I’m awaitng a clearer daily chart signal.

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