Forex4you Technical Analysis 17 June 2011

AUD/USD: rising out of fulcrum
The AUD/USD has rallied out of a fulcrum pattern at the lows indicating the potential for higher prices. The 0.001x3 point and figure chart is showing an upside target of 1.0660 and the next resistance level is at 1.0710. The pair will probably rally at least to the first of these targets before consolidating for its next move.



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Analysis by: Joaquin Monfort
Forex4you analyst

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