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Forex: AUD/USD testing parity

FXstreet.com (Barcelona) - The AUD/USD has weakened broadly against the US Friday, having been driven down to parity during the American session. In recent minutes, the movement finally culminated with a drop down to the 0.9987 level (session low), however in these moments the cross is testing parity.

According to the Technical Analyst Team at ICN.com, “Prolonged stability below the 1.0115 level will cause the extension of the downtrend over intraday short-and-medium terms. On Friday, we will consider trading below 1.0150 will extend bearishness, as such, settling below 1.0115 will extend the intraday downtrend.”

Consistent with the calculations of the Mataf.net Technical Analyst Team, the AUD/USD is slated to face short-term support at 0.9995, followed by 0.9916, and 0.9798. On the ascension, a break above 1.0203 level will trigger short-term resistances for the AUD/USD at 1.0332, onto 1.0401.

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