Technical Analysis: AUD/USD 2012.03.12

  The pair broke below the 50-Day SMA by 1.0580. Should it hold below this level, the corrective decline will likely continue towards the 1.0370-1.0400 support area, right where the 100-Day SMA and the 200-Day SMA reside. However, a break back above the 50-Day SMA could trigger a bullish resumption towards the 1.0850 resistance.    

Edward Smith, technical analyst of company Admiral Markets.

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