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Feb 01 - 01:55 PM

AUD/USD - Longs Rely On Fibos But Support Looks Fragile

By Christopher Romano  —  Feb 01 - 11:43 AM
  • AUD/USD continue to trade below the bearishly aligned 10- & 21-DMAs

  • Daily and monthly RSIs imply bearish momentum is intact

  • AUD/USD longs are playing defense again as key supports are threatened

  • Support from 38.2% Fibo of 0.6990-0.7819, Jan 29 low helps longs for now

  • Longs need break above Jan 29 high, 21-DMA to ease immediate bear pressure

  • Clean break of 0.7600 targets daily cloud top, 38.2% Fib 0.6990-0.7819

  • For more click on FXBUZ

aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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