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AUD/USD and GBP/USD Racing in Opposite Directions
Yesterday’s broad US Dollar strength was ignored by the the Aussie Dollar, as it bounced off lows. Price action like this can be put down to intraday technicals, not having broken any major levels along the way and most importantly still respecting the higher time frame resistance level we have been following on the daily chart. My longer term bias has been to play for a breakout as the thick blue line is weekly support, but this little bout of Yellen inspired excitement means we might have to wait a little longer yet. I wanted to include this AUD/USD hourly chart just to highlight the intraday price action. Retail ... (full story)