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Australian Dollar Looks Safe Above Key Support

Australian Dollar Looks Safe Above Key Support

David Rodriguez, Head of Product
Australian Dollar Looks Safe Above Key Support

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AUDUSDAn important shift in Australian Dollar trading sentiment suggests the AUDUSD may continue to hold key lows.

Trade Implications – AUDUSD: Last week we noted an important swing from sentiment extremes was a key reason the Aussie Dollar would continue to hold key lows. And indeed, sentiment continues to moderate. Until we see an important build in forex trading crowd buying, we’ll continue to expect the Aussie to hold key lows.

See next currency section: GOLD - Gold Prices Likely to Fall Further

--- Written by David Rodriguez, Quantitative Strategist for

Australian Dollar Looks Safe Above Key Support

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.