Technicals | May 04 2016
By Jamie Saettele, senior technical strategist, FXCM
Recent comments regarding AUD/USD noted that “important resistance is around [USD] 0.78. Pronounced divergence with RSI also warns that the Aussie run may be nearing completion…the outside day bearish reversal on 4/21 is a good way to make at least a short term top. Weakness below 0.7500 (trendline) would bolster bearish prospects.” AUD/USD broke 0.7500 today. Focus is lower although former resistance at 0.7382 may provide interim support.
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