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AUDUSD might spike up at channel bottom

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The AUD pair is heavily correlated to Iron ore as the world's largest iron ore exporter. Recently Iron ore price has spiked up and that happened after China announced huge infrastructure investments (they will import Iron ore heavily) so that might be good for AUD currency. The pair showed good numbers in the change in the number of new building approvals issued and worse result in retail sales. Technically AUDUSD is in uptrend and H4 is showing a clear up channel. The POC comes within

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