AUD/USD Rally Stalls Just Shy of Former Support Line

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Chart Prepared by Jamie Saettele, CMT

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-The last updated noted that “AUD/USD tested the September low before turning up. The ‘false break’ could result in some pain for breakout traders…which implies a rally attempt (short term). 3 handles later, shorts could get a reprieve from the former support line.” AUD/USD has pulled back but there are signs that this is a more important low.

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