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Alert - 17:25 (CET) - AudUsd
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The AudUsd is trading at 0.6507, ranging from 0.6478 to 0.6758. The current price is under yesterday's close at 0.6697. Checking the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are over the 200-day EMA.
The traders are watching the resistances at 0.7064 (October 20th high), 0.7239 (October 14th high) and 0.7817 (October 3rd high). The supports are at 0.6618 (October 30th low), 0.6339 (October 29th low) and 0.6000 (key).
This session, the aussie is profit taking from its intrasession highs at 0.6758, as the equity and commodity markets are declining. Australia is a copper and other metal exporter and its currency is influenced by those price swings. Given the worries about a deeper economic recession, it is speculated that the metal demand will decline with the crude demand.
Checking the daily charts, we see that the current price is over the 61.80% (0.6728) aand under the 50.00% (0.7327). Fibonacci Retracement lines. The Relative Strenght Index (RSI) is at 28 points, oversold. The volatility per hour could reach 220 pips.
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