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Aug 25 - 07:55 AM

AUD/USD - Breaks Key Fibo, Should Go Higher

By Peter Stoneham  —  Aug 25 - 06:42 AM
  • Aussie and Kiwi enjoying a bout of demand: commodities bounce cited

  • Still fighting lockdown fallout but AUD clears a key 50% Fibo

  • The retracement off the 0.7426 to 0.7107 drop was at 0.7267

  • Next Fibo target at 0.7304 and then a full retrace to 0.7426 Aug 4 high

  • Market still short but likely heavily in the money

  • A squeeze unlikely until the AUD gets back above 0.7599 Jul high

  • COVID-19 news not good: infection record in New South Wales nL1N2PV2GP

    For more click on FXBUZ






AUD/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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