Forex: AUD/USD Technical Analysis – Testing Key Trend Line
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- A Bearish Engulfing candle pattern, negative RSI divergence warn of a pullback
- Initial support is at 0.9625 (trend line from Sep low); below that eyes 0.9541 (23.6% Fib)
- Near-term resistance is at 0.9755 (Oct 23 high); we will hold long from 0.9189 for now
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
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