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Special Focus AUDUSD

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					            Sunday, 06th of Aug, 2012                                      FXTechstrategy Team
               SPECIAL FOCUS
                                           AUDUSD: Sees Further Bullish Momentum,
                                           Risk Points To The 1.0635 Level.

                                           AUDUSD: With continued upside offensive
                                           seeing AUDUSD taking out the 1.0556 level
                                           the past week, risk of further bull pressure is
                                           likely. In such a case, its immediate resistance
                                           at the 1.0600 level will be targeted where a
                                           violation will set the stage for a run at the
                                           1.0635 level, its Mar 19’2012 high. Further
                                           out, resistance resides at the 1.0700 level, its
                                           psycho level. Its weekly RSI is bullish and
                                           pointing higher supporting this view. On the
                                           downside, the alternative scenario will be for
                                           the pair to return to the 1.0556 level and then
                                           the 1.0442 level where a reversal of roles as
                                           support is likely to occur. But if these levels fail
                                           to hold, the pair will weaken further towards
                                           the 1.0380 level where a breach will aim at the
                                           1.0290 and then the 1.0177 level. All in all,
                                           the pair continues to retain its short term
                                           bullish bias as it looks to strengthen

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contained herein are those of own as of the date hereof and are subject to
change without notice. The information and opinions contained herein have been compiled or arrived
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Description: GOLD: The commodity failed to follow through higher on the back of its previous week gains and turn down to close lower on Friday. This leaves it in its range trading environment referenced in our earlier analysis.