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AUD/USD, ASX 200 battered and bruised: Asian Open – 21st August 2023
AUD/USD technical analysis (daily chart): AUD/USD has fallen -7.8% since its double top in mid July, down for eight days by Thursday and five weeks for the first time this year. However, there are signs of stability above the November 10th low – the day that the US dollar plunged as markets were excited by a slower than expected US inflation report. Dare I say I suspect we’re due a bounce given Friday’s small Doji, and the markets desire to close above the November 10th low for a second day. Whether that constitutes as a decent buy signal though is a different matter, given the negative sentiment surrounding ... (full story)