AUDUSD: Although recovering in early trading today, a decisive break and hold above the 0.9964 level is required to resume its recovery started from the 0.9535 level. . This will set the stage for more recovery towards its Nov 11'10 high at 1.0084 followed by the 1.0181 level, its Nov 05'10 high. Alternatively, downside remains for a decline towards the 0.9535 level where we expect a halt to occur and then turn the pair higher again. However, if it breaks, further weakness will shape up towards the 0.9461 level, marking its Sept 24'10 low. All in all, the pair still faces bear threats having rejected higher prices at 0.9964 level.
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