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AUD/USD: Consolidation Range

From dailyforex.com

The Aussie dollar rallied during the early hours on Friday to show signs of strength as we reached the 0.6650 level. The 0.6650 level is an area that's had massive resistance multiple times in the past. Therefore, it's not a huge surprise to see that we have pulled back from there. The jobs number in the United States came in lower than anticipated and I think that was part of the initial surge. But at this point in time, I don't necessarily look at this as a market that is going to focus on that for the long term. After all, the federal reserve just had a press conference. So, unless this drastically changes the ... (full story)

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  • Category: Technical Analysis