Price action on AUD/USD has finally reached up to (and was tentatively rejected by) key resistance in the 0.8260 price region, which represents the highest high in the current uptrend that was reached in early June. This level is of substantial technical importance, as the way in which price interacts with this support/resistance region should dictate whether or not there will be an uptrend continuation in the currency pair. For more technical analysis on this currency pair, please click here for Monday’s (7/27/2009) Chart of the Day.
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