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AUD/USD Price Analysis: Bears move in and eye 0.6620s and a weekly 61.8% ratio

From fxstreet.com

AUD/USD is lower on the day, down some 0.57% at the time of writing after falling from a high of 0.6698 to a low of 0.6652. The currency has been better offered following the Reserve Bank of Australia which kept interest rates at 4.10%. Markets, however, expect that September will most likely be the timing for the next rate increase, and this has been reflected in the price over the last weeks. Meanwhile, from a technical perspective, AUD/USD bulls have moved aside and the bears are taking control into a key support area on the charts as the following multi-time-frame analysis will illustrate {charts} Zoomed in, we ... (full story)

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  • Category: Technical Analysis