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Forex Analysis
by ForexNewsNow Team on December 31st, 2010

AUD/USD forex technical analysis round-up: Dec. 31

NEW YORK (Forex News Now) – The Aussie rose against the greenback today, trading at 1.0178 as of around 8:35 A.M., GMT.

The Aussie is up 0.07% on the day and has reached a session high of 1.0190 with a low of 1.0152 so far.

This is what a couple of the analysts say about the currency pair in the near-term:

Forexcycle writes that AUD/USD broke above 1.0182 (Nov 5 high) and reached as high as 1.0197 level.

“Support remains at the uptrend line on 4-hour chart, as long as the trend line support holds, uptrend is expected to continue and next target would be at 1.0300 area,” it adds in intraday analysis.

Meanwhile Action Forex writes in its AUD/USD analysis that a temporary top is in place at 1.0196 and some more sideway consolidations would be seen below there.

“Though, downside of retreat should be contained by 1.0027 support and bring another rise. Above 1.0196 will target 61.8% projection of 0.8770 to 1.0181 from 0.9536 at 1.0408,” the online FX trading site says.

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