AUD/USD Classical 07.21
AUD/USD: The 100-Day SMA should continue to be a reference point for traders, with the market still trading below the longer-term SMA on a close basis, despite the latest rally. The 100-Day comes in by 0.8870 and we continue to favor selling rallies into the SMA in anticipation of some steep declines, with only a close back above 0.8870 to negate outlook and give reason for pause.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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