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Aussie Price Outlook: Resistance Tests in AUD/USD, AUD/JPY Ranges
It was a troubling start to the year for the Australian Dollar as the currency experienced what many classified as a ‘flash crash’ in the opening days of 2019 trade. A combination of factors, key of which was the hold-over of risk aversion themes from Q4, combined to push AUDUSD below the psychologically-important .7000 level, and AUDJPY dropped down to a fresh nine-and-a-half year low, hitting levels that haven’t been tested since June of 2009. But since then – a different tone has developed as an initial recovery from that early-year sell-off built into consistent ranges, and those have now held over the ... (full story)