FXstreet.com (Barcelona) – After AUD topped at 83.60 area (fresh 7-week high) following an impressive 700 pips upleg triggered on early January, the pair has now reversed its course and is falling sharply. AUD shed more than 100 pips on the drop.
On March 16 AUD continues trimming recent gains and price just hit a fresh 5-day low at 82.25. The pair encountered support on the 21 EMA to bounce off and is currently hovering around 82.50.
On the downside, support can be found at 82.40 (March 8 high), 82.19 (March 10 low) and 81.99 (March 9). On the upside, resistance lies on 82.48 (March 8 high), 82.69 (March 12 low) and 82.89 (March 15
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