AUD/USD - Looking Bullish

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AUD/USD - Looking Bullish

By Greg Michalowski on March 26, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

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As per the earlier post (click here to review), the AUD/USD had support at the 100 hour MA (0.6981) and the floor area at the 0.6939 level. The price moved down to the 100-hour moving average at the 0.6981 level and bounced strongly from the level. This is bullish for the pair. Confirmation of the upward momentum would come if a break of the high today and the high from yesterday at the 0.7039 and 0.7049 levels respectively were to occur.

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