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09:35 (CET) - AudUsd: Aussie climbing on the back of commodities
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The latest words from Warren Buffet, who confirmed it's buying commodities, are supporting the Aussie up to 0.8786 dollars per Australian dollar. The demand for gold could be the main reason behind this climb. Remember that Australia is the second world gold exporter.
From a technical standpoint, the RSI are marking overbought. It doesn't look like this is being a problem for the Aussie, so we can assume the price has much strength. Our first option would be trying to catch this train. To do that, we must see where the price will form a good support to try to break 0.8786.
On the other hand, the price must break 0.871 so we can start thinking about a price exhaustion.The next target should then be the trend marked in blue.
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