Forex - Chart AUD/USD Update: Short-term consolidation - higher later


 08:00 (GMT) 14 Oct

  [Forex Charts]

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Chart AUD/USD Update: Short-term consolidation - higher later (0101-PJRY-C01)

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Asterisk denotes strength of level

08:40 BST - Prices have reached the 0.6810 Fibonacci retracement, where short-term profit-taking is appearing whilst intraday studies unwind overbought areas. A corrective pullback is developing towards 0.6750, but any break should stabilise towards 0.6700/20, as daily readings continue to improve. Following reactions, fresh gains are looked for. A close above 0.6809/10 will confirm continuation of the October rally and open up the 0.6840 retracement.


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