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Technical Analysis

AUD/USD Imminent Breakdown


Price increased a little today, but wasn't able to reach the 0.7985 Friday's high. It seems undecided right now because the USDX has managed to increase a little. Could retest the lower median line (LML) again, remains to see if we'll have a breakdown or a bounce back. A breakdown is favored if the USDX will jump and will stabilize above the 92.49 static resistance.

Author: MultiBank Exchange Group Website:
MultiBank Exchange Group
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.
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