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AUD/USD Forecast May 5, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 05 May 2016 09:25 UTC
The AUD/USD pair initially tried to rally during the day on Wednesday but found the area above the 0.75 level to be a little bit too rich. By doing so, we ended up turning a bit negative but we are still well within the massive amount of support that extends all the way down to the 0.74 level. Ultimately, we are waiting to see whether or not we get some type of supportive daily candle in order to start going long again, or if we get a daily close below the 0.74 level that we can start selling.

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