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Forex: AUD/USD drops to 200-day MA, 1.0376

By FXstreet.com,  April 13, 2012, 04:45:00 AM EDT

FXstreet.com (Barcelona) - The AUD/USD is extending its losses below 1.0400 psychological level, after a strong plunge from 1.0452 high on account of disappointing China's Q1 GDP at 8.1%.

The extended drop has found support at the 200-day moving average at 1.0376.

"Support lies at 1.0340 ahead of 1.0260/28, the 50% retracement of the move up from the November low and the recent low", wrote Commerzbank analyst Karen Jones.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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