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Monday, January 25, 2010

Beauty of Australia

Australian Dollar's decline from 0.9330 area on mid January reached a fresh 3-week low at 0.8980 on Friday and the pair has remained moving between 0.9000 and 0.9100 ever since.

On hourly carts, Rajoo C, technical analyst at Precise Trader, sees the pair sideways while below 0.9300:Hourly Trend is Sideways while 8980 holds and Daily Trend is Sideways Down while 9300 holds, so expect the price to be Choppy and Downside may be limited."

NZD/USD decline from 0.7400 area on Jan 19, extended on Friday to a fresh 3-week low at 0.7090, and the pair remains consolidating between the mentioned low and 0.7170 on the upside, with downside bias still active. Resistance levels lie at 0.7170 and 0.7200. Support levels are 0.7090/00, and 0.7050.

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