AUD/USD Classical 02.08
AUD/USD: Rallies look to have stalled out for now just shy of 1.0200 after the market managed to put in a bearish close on Friday to suggest that the key highs by 1.0260 will remain intact. However, for the reversal to play out, we would need to see a break and close back below 1.0110. A close below 1.0110 should help to increase downside pressure, while back below 1.0055 will accelerate declines
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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