Australian Dollar Likely to Continue Higher
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Trade Implications – AUDUSD: In recent weeks we’ve written in favor of Australian Dollar strength amid sentiment extremes and a shift in positioning. This week is little different except to note that the Aussie currency faces a key test at year-to-date peaks near $0.9450. Only a break below key support near $0.9315 and a change in retail positioning would change our trading bias.
See next currency section: GOLD - Gold Targets Fresh Peaks amid Key Shift
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.