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AUDUSD W bullish pattern is showing new confluence point

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 14, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    AUDUSD is correlated to Chinese equities and data as China is a big exporter for Australia. China imports Australian resources mainly bauxite, coal, gold, LNG, some copper and iron ore, but when China slows it also slows Australian exports. Chinese imports fell app 20 % in September while Westpac consumer sentiment showed higher actual numbers vs estimate and previous number so fundamental data has been mixed through Asia session. Technically we can see POC at 0.7200 zone ( Inner trend line,

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