AUD/USD Classical Technical Report 02.02
AUD/USD: The latest surge looks like it could finally be ready to stall, with the market reaching key resistance by the highs from October in the 1.0700’s. Overall, our core outlook remains intensely bearish and we look for a more significant downside extension back below parity over the coming weeks. Daily studies are now officially overbought and a close below 1.0700 on Thursday should encourage bearish reversal prospects.
--- Written by Joel Kruger, Technical Currency Strategist
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