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AUDUSD sees bullish bias with scope to extend higher; next stop 0.8300
AUDUSD retreated over the previous two days, following the bounce off the 32-month high of 0.8135. Looking on the medium-term timeframe, the pair has been in bullish phase since January 2016, supported by higher bottoms and higher peaks. Despite the small retracement on the short-term chart, the price still endorses the sharp upward movement as it hit the 0.7500 strong psychological level and created consecutive winning weeks. After this month’s strong moves, the expectation for the pair is for further profit taking and could drive the price until the 0.8300 handle if the price surpasses 0.8135. A penetration above ... (full story)