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Forex technical analysis: AUDUSD tests - and breaks above - key resistance area

Lots of stuff against 0.77000 level... But broken now.

The AUDUSD is up testing a key resistance area against the 0.7700 level. Well it just broke through. The high close going back the last three months has been at that level. A trend line slashed through it.. The pair just broke above the level and some stops have been triggered with the price moving up to 0.7716. Traders will want to see the price stay above the broken level now. A move back below 0.7690 will not be welcomed for the buyers.

The move is happening around the fixing and gold is also trading at the highs for day/oil and other commodities are also moving higher.

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


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

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