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AUD/USD starting to show constructive price action intraday

FXstreet.com (Barcelona) – For the first time since its double topside failure at 0.9450 back on Nov 19, the AUD/USD has been able to show some signs of strength, with the selling rout pause at technical 0.9120 support, now combined with the RBA Deputy Governor Philip Lowe’s comments over the “fairly high threshold for intervention”, forcing intraday sellers to bail out.

With the latest clearance off 0.9190, the Aussie is showing tentative indications that a larger upward correction may now get underway, should the resistance zone 0.92/0.9220 be overcome on an hourly basis. Such technical breakout, if occurs, may allow …read more