AUD/USD Classical 02.09
AUD/USD: Rallies continue to remain very well capped ahead of 1.0200 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 1.0105. A close below 1.0105 should help to increase downside pressure, while back below 1.0055 will accelerate declines. Back above 1.0200 threatens outlook.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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