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AUD/USD, Gold: Reversal roadblocks loom as prices near key levels
Persistent global growth concerns, along with a watering down of the RBA’s hawkish bias following the decision to hike Australia’s cash rate to 4.35%, have undermined the AUD/USD recently, seeing the pair move back towards the centre of its trading range after failing again to break resistance above .6500. From a technical perspective, AUD/USD is withing touching distance of the 50-day moving average, a level it respected on multiple occasions in October. That suggests near-term price action may determine whether the reversal will continue. Despite the less than impressive recent performance, RSI and MACD ... (full story)