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Stuck Between a Moving Average and a...>

AUSSIE TECHS
AUSSIE TECHS: Stuck Between a Moving Average and a Fibo
At the time of writing, AUDUSD sits close to the 100-dma which comes in at
0.7255, having broken the level earlier following risk-off sentiment. Support
was found just ahead of the broken multiyear up trendline which comes in at
0.7225. A break below here would open the Nov 13 low of 0.7164 ahead of the Oct
26 low at 0.7021. To move the focus back to the topside, AUDUSD needs to break
the pivotal 0.7328 level convincingly, the 61.8% retracement from 0.6828-0.8136.
Above here, the target would be the 0.7400 congestion zone ahead of the 200-dma
at 0.7446.

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