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AUD/USD  extended the recovery from 0.9390 region, where we believe that temporary bottom was established.

The reason is an impulsive rise through the blue trend line, after the bounce from the wave (v)=(i) equality region.

Guest post by Gregor Horvat

As such, pair is now reversing into a higher recovery, which must be structured minimum by three legs, (a)-(b)-(c).AUD USD Elliott Wave Analysis October 6 2011

If we are on the right track, then pair may recover even up to 1.0000 region, while 0.9390 low is in place!

For more detailed technical analysis scroll down and check video that was recorded for subscribers.

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