AUD/USD has declined for 8 consecutive weeks for the first time in more than 20 years. The pair tried the downside again today, touching as low as 0.8920 but has rebounded to 0.8956, down just a handful of pips on the day as risk appetite improves.
Bids rest down at 0.8920 with a barrier at 0.8900. The overnight high in Asia was 0.8965 with offers beginning at 0.8985 with more at 0.9000 and buy stops above 0.9020.
I like a bounce here but it’s tough to take sides ahead of the FOMC..
Source:http://www.forexlive.com/
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