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AUD/USD May Suffer a Crucial Break Lower
The Australian Dollar has had a rough year to date, falling more than 4.5% versus the US Dollar. Widespread concerns regarding global growth and the US-China trade war have worked to pressure AUD/USD, alongside interest rate cuts from both currency’s central banks. Although AUD trades near multiyear lows and has enjoyed formidable support at the 0.67 level, an impasse in US-China trade negotiations could see AUD/USD fall under renewed pressure. Consequently, I maintain a bearish bias on AUD/USD and suspect a break beneath the longstanding support at 0.67 is due. Repeated tests of the level do not speak to bullish ... (full story)
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- Oct 9, 2019 10:43pm Oct 9, 2019 10:43pm
- Ghass1234
- | Joined Dec 2018 | Status: Member | 1411 Comments
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- Oct 10, 2019 1:08am Oct 10, 2019 1:08am
- cogs
- | Joined Jul 2010 | Status: Member | 221 Comments
My comments are not to be taken as trading advice, not a financial advisor