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26.06.2012 04:58 PM
AUD/USD Bullish Outlook for June 26, 2012 (Daily Strategy)

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The Australian dollar operates highly correlated with risky assets and risk appetite in general. Australia sends a large amount of raw materials to China for use in the manufacturing process which supplies much of the world with "materials".
On the graph, we see an upward bias, with a widening of its bullish channel. At this point the price is trading above 1.0029 Fractal, a close above the fractal increases the chances of upward sequence, and on the other hand, a reversion to the uptrend line could be a buy opportunity, with objectives to 1.0175.
The MACD indicator is showing positive divergence and bullish signal.

 

 

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