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Dec 17 - 01:55 PM

AUD/USD - Dip Buying Preferred As Key Resistances Are Targets

By Christopher Romano  —  Dec 17 - 11:35 AM
  • AUD/USD sets a 32-mo high after psychological resistance at 0.7600 breaks

  • Daily, monthly RSIs rise & are not diverging, bull momentum is intact

  • Dip buying theme remains but shallow dips might lead to bids being raised

  • Longs target the April 2018 monthly high at 0.7677, stops likely above

  • Break of that high suggests test of 0.7790/0.7815 resistance is likely

  • For more click on FXBUZ










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Source:
Refinitiv IFR Research/Market Commentary

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