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AUDUSD Eyes Critical Support Ahead of US Advance GDP
Readers of this site are no stranger to the AUDUSD, especially in recent weeks. It has quickly become one of the more talked about currency pairs given the late-stage terminal pattern that’s been forming since the January lows at 0.6825. However, I felt compelled to mention the pair yet again ahead of the upcoming US Q3 GDP report. While the broader wedge pattern (below) is still intact, the Aussie is now hovering just 20 pips above critical support at 0.7565. Add Friday’s event risk to the mix, and you have a recipe for fireworks or at least the potential. I also wanted to comment on Wednesday’s bearish ... (full story)