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Forex technical analysis: AUDUSD breaks away from the peloton

Discussion in 'Technical Analysis' started by ForexLive, Aug 8, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Caught up in the Olympics Did you catch those cycling races at the Olympics this weekend..... The AUDUSD is breaking away from the peloton (the pack) as it suddenly moved up above 25 pips in a few minutes time. No real news, just a break through new highs and some follow through buying. The currency has been supported of late. It tested the 0.7600 level on Friday and again today and could not muster any momentum below the level. That has led to sellers turning back to buyers.

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