Price action as of Monday (7/20/2009) on AUD/USD has tentatively broken out above a short-term downtrend resistance line extending from the recent major high in early June. This trendline breach could be hinting that the bearish consolidation that has been in place since early June has simply been a correction within a continuing overall uptrend. For more technical analysis on this currency pair, please click here for Monday’s (7/20/2009) Chart of the Day.
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