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Commodity currencies could face fresh vulnerability

Posted on 20 August 2013

Interesting times for two of the main “commodity currencies”. The recent rebound in metal prices – iron ore and copper have had a good few weeks on raised hopes for Chinese demand – has helped the Australian dollar halt the slide that began mid-April.
A dip below $0.90 has since been reversed and is one which technical analysts may come to see as a “head” in an inverted “head and shoulders” pattern. A possible precursor for an Aussie rebound?……………………………………….Full Article: Source


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VRS - who has written 39533 posts on Opalesque Commodities Briefing.


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