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AUD/USD: Next big support at .8050 - FXWW

FXStreet (Bali) - After an initial new low printed - 0.8550 - on the back of an upbeat Aus jobs report, the AUD/USD is not finding follow through to extend losses, currently bouncing towards 0.8575.

Sean Lee, Founder at FXWW, notes: Bears cracked a big support at .8645 and will now look to cement their position of strength with a weekly close below this level. Bearish momentum is very strong on all time frames and the next big support is not until .8050."

Lee adds: "There will be intraday trailing stops now above .8650 but they should remain safe unless we get an unexpected announcement. On a more medium-term perspective, I’d suggest .8050/.8850 type range from now until Christmas."

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