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May 30, 2012

AUD/USD – Confirmed Bearish Continuation Targets 0.9660

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Even though there was clear resistance at 0.99, the 5/29 session failed to close above 0.9850. As noted in the previous update, this was a sign that the market held the bearish bias and wanted to test the resolve of the 0.98 support, which did occur in the Asian session. This support then broke, and... FF News: Technical

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