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AUD/USD turns resistance into support
The last AUD/USD update noted more room towards a key level around 1.0440 that involved a declining trendline, a previous pivot seen more clearly in teh daily chart, and 61.8% retreacement of the 1.0612 – 1.0166 swing. The AUD/USD stalled here only briefly before breaking this resistance. However, it turned back from 1.05 and tested this area again. As we begin the 9/13 session, the pair has found the previous resistance as support. This reflects further bullish bias heading into the next key risk event: Fed policy meeting. The market seems to be focused on the 1.0612 high now especially if it can clear the 1.05 ... (full story)
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