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AUD/USD Declines To Trendline Support
After posting a marginal gain above the prior weekly high in the Asian session, AUD/USD has turned lower to test a rising trendline that dates back to November 21 lows. The decline has been fueled by a stronger Dollar as the European Central Bank meeting has triggered volatility in the financial markets. The ECB announced an extension of its bond purchasing program, albeit at a reduced pace. Upon the expiry of the current 80 billion euros purchase program in March 2017, the central bank will continue the asset purchase program at 60 billion euros a month until December 2017. With the extension, the ECB will commit ... (full story)