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AUD/USD testing 0.9317/18 highs

FXStreet (Bali) - AUD/USD has just broken through an area of offers above 0.93, printing its highest level for the day at 0.9318, as the short squeeze continues.

Jim Langlands, Founder at FXCharts, notes: "On the topside, the first hurdle will be at yesterday’s session high at 0.9317, above which 0.9325 and then 0.9340 (100 DMA: 0.9336) will once more find decent sellers. I can’t see it above here today, ahead of Jackson Hole, but if wrong, we could be in for a run towards 0.9355 (daily cloud base/Kijun) and possibly back towards 0.9373(6 Aug high) and 0.9382 (61.8% of 0.9472/0.9239)."

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