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AUDUSD consolidating at the highs
The AUDUSD had a narrow trading range at the top of the range. The pair continues to benefit from a global growth story scenario. Global growth increases, the AUDUSD should benefit. If there are signs of faltering - and the US employment report on Friday will be key - then the pair will likely correct. From a technical perspective, the price bumped against the underside of a channel trendline on the hourly chart. That level came in at 1.0336. The high for the day came in at 1.0331. Traders had a low risk trading opportunity against the trendline level (sell) . Keep an eye on this trendline for clues on any rallies. A ... (full story)