![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiP_-0cr8EwrGfIibYOYfuJcT4MTM8PTLNMt302UaO4rONGh8iyM6KIx1ENACSbnm05aKp3gKaA9uhkVR_VRaounEGdcsMW7Z7F_CRQ7Wf9zytwR8_nycyHwStRctf3j8L5JDYLEhyphenhyphensQ5Dn/s400/2012-02-23+AUD.jpg)
Above is the daily chart of Aussie (AUD=). The price recently broke down the upward trending channel, shown in red, and it will be in short-term bearish trend. Support is at 1.05. Nonetheless, target estimated by the previous flag breakout is 1.12, so if the price drops to support zone, it might be a good idea to long some Aussie.
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