AUD/USD In The Coming Weeks
Mike Macdonald | Dec 14, 2014 03:11AM ET
Downside pressure remains dominant, with prices now trading at prices last seen in mid-2010. Consolidation is possible around current levels, as oversold daily studies develop, but further AUD weakness is highlighted on bearish weekly and monthly studies. A later break below 0.8200 will open up the 0.8065 low of May 2010, with strong psychological support at 0.8000 thereafter. Resistance into limited gains is up to 0.8375 and extends to 0.8485. Upside potential, however, is expected to be capped below 0.8375.
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