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Technical Analysis
Forex Market Commentary By TitanFX
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[QUOTE="titanfx, post: 131319, member: 33464"] [SIZE=6][B]AUD/USD – Aussie Dollar Breaks Key Support Area Vs US Dollar[/B][/SIZE] [SIZE=5][B]Key Highlights[/B][/SIZE] · The Aussie Dollar fell sharply after yesterday’s RBA monetary policy decision and broke a key support at 0.7625. · The AUD/USD pair declined below a crucial bullish trend line at 0.7620 on the 4-hours chart. [B][SIZE=5]AUDUSD Technical Analysis[/SIZE][/B] Yesterday’s RBA monetary policy decision made a huge impact on the Aussie Dollar as it tumbled below the 0.7625 support against the US Dollar. AUD/USD now looks set for more declines below 0.7600. [IMG]https://titanfx.com/wp-content/uploads/2017/07/AUDUSD-Chart-07.05.2017-768x401.png[/IMG] There is a chance that the pair may soon break 0.7580 and the 100 simple moving average (H4) for further declines. The next major support is near the last swing low of 0.7540. On the upside, the broken support at 0.7625 may now act as a resistance. ------------------------------------------- [B][I]Posted by Aayush Jindal - 'Titan FX Currency Analyst' [/I][/B] [/QUOTE]
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