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AUD/USD Price Analysis: Bears push to the edge of the abyss

AUDUSD Price Analysis Bears push to the edge of the abyss
AUD/USD has opened at support but hangs over the edge of the abyss at 0.6350 which guards the risk of a fall to 0.6150 for the week (s) ahead. The US dollar is on the march, supported by strong yields and the Federal Reserve's campaign to hike rates follo

From fxstreet.com

AUD/USD has opened at support but hangs over the edge of the abyss at 0.6350 which guards the risk of a fall to 0.6150 for the week (s) ahead. The US dollar is on the march, supported by strong yields and the Federal Reserve's campaign to hike rates following Friday's strong US Nonfarm Payrolls data. Speculators' net long positioning on the US dollar fell in the latest week to the lowest since mid-March, according to calculations by Reuters and U.S. Commodity Futures Trading Commission data released on Friday. This leaves scope for a reaccumulation of those positions that could add pressure to AUS/USD. The value of ... (full story)

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