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AUDUSD bears are patiently waiting

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 4, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The AUDUSD has had a relief rally after the RBA decided to keep the rates at 2 %. The RBA indicated at the start of 2015 that it wanted to achieve 0.75 for the AUDUSD pair; currently it has surpassed this achievement as it is currently at 0.7200. As I have also explained 2 days ago on that basis, I doubt the RBA will cut rates further. Having said that, if commodities continue to weaken further, expect AUDUSD to weaken further under free markets. Technically we have 2 POCs. The first POC is

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