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AUD/USD bears looking to break 0.7220, bulls eye a test of 4-hour 61.8% golden ratio

26 days ago   |   By FXCM

AUD/USD bears are lurking in the throes of a downside extension below 0.7220.
Bulls to target 0.7280 resistance for a shot at 4-hour 200-EMA and bullish territory above 0.7300.
AUD/USD ended Friday under pressure as the US dollar strengthened on both the Evergrande risks and as markets contemplate Federal Reserve tightening. AUD/USD closed the New York session at 0.7256 and had travelled from a high of 0.7316 to a low of 0.7236.
The DXY index, a measure of the US dollar vs a basket of currencies, was poised for its third straight week of gains as the uncertainty over beleaguered Chinese...
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