Continuation Setup in AUD/USD Currency Pair

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By Jamie Saettele | Published 04/28/2006 | Currency | Unrated

Continuation Setup in AUD/USD Currency Pair

Weekly Analysis: AUD/USD Possible Continuation

AUD/USD breaks important technical levels â�,�“ including the 40 week SMA, 200 day SMA, and resisting trendline dating to May 2005
Currently near yearly highs, scope remains for a pullback to the former trendline near .7460/80, which would now be support

Key Levels - Current Price: .7562

Level      Type            Significance
.7760       Resistance   76.4% of .7987-.7014 / 9/12/2005 high
.7644      Resistance   10/04/2005 high
.7614     Resistance   61.8% of .7987-.7014
.7585       Resistance   1/30/2006 and 2/1/2006 high
.7485     Support        3/2/2006 high
.7445/62 Support         23.6% of .7014-.7578 / 40 week SMA / 200 day SMA
.7356      Support         4/20/2006 low
.7296      Support         50% of .7014-.7578

Daily Chart I

Weekly Chart

Daily Chart II

Daily Chart III

Jamie Saettele is a Technical Currency Analyst for FXCM.

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