AUD/USD Technical Analysis July 21, 2011

AUD/USD continued to sit just under the 1.08 level on Wednesday, showing how buoyant this pair really is. The fact that it is comfortable just under this level suggests that it is more than likely going to go higher. The all-time highs around the 1.10 area are targeted on a clean break of the 1.08 level. We don’t sell, but we do like buying on dips down to 1.05.

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