- Like Gold, I have been waiting to buy AUD/USD since Risk Off took hold on 05May (when Trichet failed to mention "strong vigilance" in his ECB press conference).
- The sell-off looks to be about done now, so I have just initiated a long position here.
- Monthly : Strong uptrend.
- Weekly : Same as monthly.
- Daily : Looks like a strong base above 1.05 has now been formed. Uptrend should now resume.
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