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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Mark Adams who wrote (3921)	5/24/2001 8:09:08 PM
From: Mark Adams	Read Replies (1) of 33421

FX ALERT: AUD/USD drops back to 0.5180s on local bank selling Sydney--0848 JT/2348 GMT--May 25 AUD/USD fell back from the 0.5220 resistance level to a low of 0.5187 on selling from two local banks. Offshore involvement has not been mentioned by dealers, who suggest that the fall was exaggerated by a lack of liquidity after recent volatility. AUD/USD has since bounced to 0.5200 and the 0.5170/80 level is expected to hold in Asia, with 0.5220 on top.

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