AUD/USD Classical 03.31
AUD/USD: Despite the recent surge back above 0.9200, we retain a bearish bias and look for the market to top out by 0.9250 ahead of a major bearish resumption. The key short-term level to watch below comes in by 0.9000, and we would recommend looking to establish or build on any existing short positions in anticipation of some fresh declines back towards 0.8600-0.8800 over the coming days. Only back above 0.9250 delays outlook.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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