AUD/USD Classical 03.25
AUD/USD: The market has been in the process of recovering since breaking below critical support at 0.9800 a few days back, with the latest rally resulting in a push back above 1.0200 to threaten a break to fresh post float record highs above 1.0250. Nevertheless, we still view the current bounce as an opportunity to sell, and expect to see the market very well capped from here below 1.0250 on a daily close basis. Ultimately, only a break and close back above 1.0250 would delay outlook.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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