Price action on AUD/USD (a daily chart of which is shown) as of Tuesday (1/11/2011) has dropped to break down below a key parallel uptrend channel extending back to the June 2010 lows. This price drop follows on the heels of a significantly bearish trend that has been in place since the beginning of the new year last week. For more technical analysis on this currency pair, please click here for Tuesday’s (1/11/2011) Chart of the Day.
James Chen, CTA, CMT
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