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AUD/USD needs break of 0.9260, 0.9330 to define direction - FXStreet

FXStreet (Bali) - According to Valeria Bednarik, Chief Analyst at FXStreet, AUD/USD needs a break of either 0.9260 or 0.9330 to define its next short term direction.

Key Quotes

"The AUD/USD has been trading in a quite limited range, with the upside capped by 0.9330 strong static resistance level, as an early approach to it resulted in a quick slide right below the 0.9300 mark."

"Nevertheless the pair has shown little follow through, consolidating around the figure for most of the last session."

"Technically, the hourly chart shows a mild bearish tone coming from indicators, with price below a flat 20 SMA and indicators grinding lower below their midlines."

"In the 4 hours chart price hovers around an also flat 20 SMA while indicators lost their upward potential and turned south approaching their midlines."

"A break through 0.9260 however, is required to confirm some downward continuation, while above 0.9330 the pair can surprise with a recovery up to 0.9370 price zone."

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