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AUD/USD and NZD/USD Break Above Trendlines to Signal Bullish Reversal
Stocks, Unit trusts, Wealth Management and Forex markets
17-03-2012, 04:53 AM
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The one
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Join Date: May 2000
Location: UK
Posts: 97,461
Potenza rep: 10
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AUD/USD and NZD/USD Break Above Trendlines to Signal Bullish Reversal
The 4H AUD/USD chart shows the market in a sharp breakout above a declining trendline going back to the highs in late Feburary at 1.0855. The RSI in the 4H chart broke above 60, an initial sign that the bearish momentum is lost. Still, price action should break above 1.06 
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