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The AUDNZD has formed a Pin Bar on the weekly chart. This Pin Bar has formed rejecting a proven resistance level. Price has failed to break through this resistance level at two at previous attempts.
If price can break the Pin bar low and move lower, near term support comes in around round number 1.2800. If price goes higher and breaks through this resistance level we could see price start a new hike hihgher.
AUDNZD WEEKLY CHART – 28 JULY 2012
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