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Market View

AUDUSD Technical Daily View

Wednesday, April 12, 2017 4:56 AM GMT

AUDUSD is ranging around 0,75 area after a sharp fall from 0.767 level. In addition, it is forming a falling channel and is testing the lower side. Next supports are the 50% and 61.8% Fibonacci levels. Regarding news, we are expecting U.S President Donald Trump’s speech later today and on Thursday, we have the release of Unemployment Rate where we do not expect big surprises. However, these events may give volatile action on Aussie.



The price is consolidating between 0.751 and 0.747 area. In the event of bullish violation of 61.8%, it may head to upper side of the falling channel. Naturally, if price breaks the consolidation to the downside, then the pair may head to 50% of Fibonacci as you can see on the daily chart.

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