Money Flows to Australia

06/03/2009 9:49 am EST

Focus: ETFS

Thomas Aspray

, Professional Trader & Analyst

chart
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The strength in the Australian dollar and gold has helped push EWA, the Australian ETF, higher. The daily chart and technical studies look positive, but the 50- and 200-period MAs are still negative. The 38% resistance is at $20 with the 50% level and trend line resistance at $22.80. Good support is in the $15 area.

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