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AUD/USD Signal Today -24/12: Aussie Dollar Struggles (Chart)
(MENAFN- Daily Forex) Potential Signal:I am fading rallies in this market every time they occur. If the market rallies, I will be looking for a long wick on an hourly candlestick between the 0.63 level and the 0.6350 level. I would have a stop loss at 0.6365 and would be aiming for the 0.6215 level.
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- In my daily analysis of major currencies, the Australian dollar continues to be one that I think is going to be a miserable market.
- After all, the market has sold off quite drastically over the last several months, and we have yet to see any real attempt to make this thing bounce.
- The 0.62 level is an area that has been important multiple times, and I think we have a situation where traders will continue to look at that as a potential“floor in the market”, but I don't think we have any real momentum to the upside either.
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