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AUD/USD Consolidates Below Psychological 0.8000 Handle Ahead Of RBA Meeting
After a failed break attempt above the 0.8000 level in AUD/USD late last week, the pair has been consolidating below it today. Dips in the pair have been bought at 0.7960 support which was a prior resistance level that held the pair lower on four attempts, as seen on a 4-hour chart. AUD/USD gained some upward momentum in the North American session today as the greenback fell under pressure. North American traders drove the US Dollar index (DXY) to the lowest level in 14-month today. DXY is nearing support at 92.62 which held the index higher in 2015 and 2016 on a daily chart. The index last traded at 92.78 for a loss ... (full story)
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