$EURAUD (7.31.2013)

Move up in the pair continues to extend and though the structure doesn’t look like a very pretty impulse, we like more upside in the pair. Short-term support lies between 1.4594 – 1.4667 and price should now stay above 1.4477 previous peak as it continues higher. We don’t like selling the pair into corrective swings lower and will continue to use dips to look for long trading opportunities.

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