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14 January, 2018
AUD/USD Forex Technical Analysis Closed going on for the Strong Side of Major
AUD/USD Forex Technical Analysis Closed going on for the Strong Side of Major Retracement Zone

The daily chart indicates that the buyer has to continue to turn the AUD/USD away from the Fibonacci level at .7886 to idolization the rally.
The AUD/USD posted a broad range in version to Friday in the back closing highly developed. The Forex pair weakened after the U.S. reported unquestionable consumer inflation data, but recovered plenty to admit out the October 13 severity at .7897 in the past closing in the direction away from ahead.

The Aussie continued to be helped by hermetically sealed retail sales reported earlier in the week and the possibility of an earlier than conventional rate hike by the Reserve Bank of Australia.

In totaling to the Australian retail sales data, the recent rally has been driven by a merger of factors, including rising commodity prices, M&A flows, demand for bonds and rising risk appetite.

There was U.S. economic data released on the subject of Friday, but Aussie traders remained focused not far and wide off from Thursdays forgive of a report that showed retail sales climbed 1.2 percent in November, trouncing expectations for a 0.4 percent growth. The description suggests that consumers may not be as downbeat as forwarding thinking. read more


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