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Dec 29 - 04:55 PM

AUD/USD - By 2 1/2 Year Highs And 38.2% Fibo Of 2011-2020 Drop

By Randolph Donney  —  Dec 29 - 02:17 PM
  • Decent AUD/USD gain today despite S&Ps shedding early gains

  • Current 0.7624 high close to Dec. 17's 0.7639 trend high

  • That high's right by the 38.2% Fibo of the 2011-2020 drop at 0.7638

  • Monthly close above 0.7638 would put 2018's 0.8136 high on the agenda

  • Nearer target is 0.7906, the 161.8% Fibo off November's base

  • Track of U.S. fiscal stimulus bill, rebalancing eyed into year-end

  • AUD/USD uptrend is intact while above rising 21-DMA, last at 0.7523

For more click on FXBUZ


Chart Click here

Chart Click here

Source:
Refinitiv IFR Research/Market Commentary

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