Australian Dollar special report
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Australian Dollar special report
Mon, Aug 11 2008, 07:37 GMT
by Clifford Bennett
FxMax
If the AUD breaks back above .8880 it may have bottomed, not just for now but for the medium term as well.
Still a slight chance of fresh lows if people continue selling on the basis of expected on-going US dollar strength, but I believe we may have seen the lows for Oil and Gold, and there are a lot of people who are now short the Australian dollar, and no one is long!
The highest energy potential in the Australian dollar market at the moment is to the upside.
A move back to 90 or 91 cents is possible this week, and this would become our confirmed targets on a break of immediate resistance today at .8880. For the moment cautious as liquidity starts to build this Monday morning.
Published on
Mon, Aug 11 2008, 07:38 GMT
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