AUD/USD Classical 02.10
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. Look for a daily close below 1.0055 now to officially confirm shift in bias and open the door for deeper setbacks over the coming days back towards next major support in the 0.9800 area. From here, any intraday rallies should be well capped ahead of 1.0150.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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