AUDUSD- Near-term Bullish- Long-Term Bearish
I’ve been aggressively scalping the aussie since the break above 1.0415 (50% Fib Ext) While our short-term objective took us higher, our longer term remains weighted to the downside. As such we look for the AUDUSD to come off early next week after testing topside resistance at the April highs today at 1.0480.
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---Written by Michael Boutros, Currency Strategist with DailyFX.com
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