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4 Mar 2013
Forex Flash: AUD/USD to test 1.01 - BBH
The AUD/USD is currently showing a price activity which is pre-preemptive of a breakout lower, currently breaching the 1.0180 post Australian data.
According to Marc Chandler, Global Head of Currency Strategy: "Bounces seem to have become shorter and shallower. The $1.2040-60 area should cap up ticks if the downward momentum is going to be maintained. We look for a test on the $1.01 area in the days ahead."
According to Marc Chandler, Global Head of Currency Strategy: "Bounces seem to have become shorter and shallower. The $1.2040-60 area should cap up ticks if the downward momentum is going to be maintained. We look for a test on the $1.01 area in the days ahead."