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AUDUSD attempts recovery from 10-month low

From xm.com

{video} AUDUSD had been in an aggressive decline following a double top pattern in mid-July, with the pair posting consecutive multi-month lows. Even though the price managed to find its feet at a fresh 10-month bottom and recoup some losses, the road to recovery seems rather long. Should the negative pressures wane, the price could ascend to face the May support of 0.6457, which could now serve as resistance. Conquering this barricade, the bulls might attack the recent resistance zone of 0.6521. Further upside attempts could then stall at a couple of previous support regions such as 0.6563 and 0.6594. Alternatively, ... (full story)

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  • Category: Technical Analysis