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AUD/USD Price Analysis: Bulls need 18-day-old resistance break to aim for 0.7800
AUD/USD portrays a sluggish move around 0.7750 during Friday’s Asian session. In doing so, the Aussie pair fails to extend Thursday’s run-up beyond 200-SMA and a descending resistance line from May 18. However, lack of Momentum and subdued MACD signals restrict the pair’s immediate moves. Given the strong hurdles around 0.7755 and 0.7765, represented by the 200-SMA and stated resistance line, coupled with the downbeat oscillators, AUD/USD may witness a pullback towards 0.7700. During the moves, an ascending support line from June 03, near 0.7725, will precede the latest range support around 0.7675 to restrict ... (full story)