Price action on AUD/USD has tentatively broken down below both a short-term uptrend support line extending from the 3/10/2009 low, as well as a key horizontal support/resistance level around 0.6850. For more technical analysis on this currency pair, please click here for Monday’s (3/30/2009) Chart of the Day.
UPDATE: As of Tuesday morning, price has turned back up after breaking down below horizontal support. To the upside, a major resistance target resides just below 0.7100.
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