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Downside Accelerates

AUD

Spot AUD/USD declines to the lowest level since December 23, touching 0.7543. There was no apparent headline flow behind the move, a small uptick in USD looks to have pushed the already vulnerable over support levels, the decline accelerated after dropping through 0.7564, the Feb 2 low. Some support seen at 0.7418, a 23.6% Fibonacci level.

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