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Thomson Reuters
Aug 31 - 08:36 AM
AUD/USD - Looking Ugly As Weekly Bear Trend Set To Resume
First appeared on eFXplus on Aug 31 - 06:30 AM
  • Risk off and latest trade tension keeping the AUD pressured Friday
  • After two positive, albeit tight, weekly closes the bear trend set to resume
  • Weekly resistance at 10WMA has held the line, currently 0.7364
  • Daily chart not looking good for the AUD: fourth consecutive day of losses
  • Looking at a 0.7200 break next week unless a significant wind change is seen
  • China, U.S. trade stance to haunt AUD, broad risk off sentiment a thorn too

AUD/USD Weekly Chart: Click here

Source:
Thomson Reuters IFR Markets

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