Hello Traders,
The AUD/USD pair is in a counter trend trade driven mostly by Dollar weakness.
While technically our model of Program Trading is looking for the 0.85 area of target, we could see price of AUD moving higher relatively to USD.
Two are the weekly areas of resistance to watch: the 0.9210 area and the 0.9480 area (see below picture).
AUD/USD weekly timeframe August 9th 2013
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Fibonacci Stalking 