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AUD/USD testing the 0.72 level again

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 24, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - AUD/USD is currently trading at 0.7211 with a high of 0.7297 and a low of 0.7197.

    AUD/USD has started to settle below the 20 and now the 55 SMA on the hourly chart in a phase of consolidation and eyes lower territory below the 0.72 level again as the dollar surges across the board. The Aussie had been performing on the bid with risk-on post the ECB and PBoC, but the copper / commodities dropped and the Aussie with them.

    AUD/USD levels

    Technically, the key levels remain with the 0.7385 Fibo retracement that is guarding the 0.7367 2014-2015 downtrend and the August high at 0.7439. A drop back below the key and psychological 0.7200 targets the 0.7180 support daily closes open up 0.7000.
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