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AUD/USD breaks below Friday’s low as bounces keep failing

FXstreet.com (Barcelona) – AUD/USD has marginally broken into new trend lows ahead of the European session, printing its cheapest price since Sept 6 at 0.9141 following the clearance of 0.9143, last Friday’s low.

Technically speaking, Jim Langlands, Founder at FXCharts, notes: “I don’t think the downside is done with yet as the head-shoulder formation continues to play out, looking for a target of somewhere around 0.9000.”

From a fundametal standpoint, Jim suggests too keep an eye on what the RBA says this week: “We have more RBA talk this week, starting tonight, with the RBA Deputy, Lowe, adding his own …read more