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AUD/USD – Looking to Retest Support at 0.8650
The last month has not been an enjoyable time for the Australian dollar as it endured a strong decline moving from close to 0.94 down to below 0.8650 and an eight month low in the process. For the last couple of weeks it has taken a breather mainly between 0.87 and 0.88. Even though it has met significant resistance at the 0.88 level, it was able to move through to a two week high above 0.8900 towards the end of last week before recently falling sharply below 0.87 again to finish out last week. The resistance level at 0.88 remains a factor and is continuing to place downwards pressure on price, however more recently ... (full story)
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