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AUD/USD Forecast: Australian Dollar Rally Overextended? – DailyFX
The Australian Dollar rallied versus the US Dollar as risk appetite soared, but the move in AUD/USD may be overextended in the short term
Australian Dollar Technical Forecast Neutral
The Australian Dollar closed out the first week of November with an impressive showing, as a risk-on mood swept through markets. AUD/USD price action rallied 3.25%, engulfing the entire October range. Friday saw a small retracement to close out the week, but intraday price action found support near Octobers closing high at 0.7239.
AUD/USD Daily Price Chart
Chart created with TradingView
Bulls will look to defend that level of support again. To the upside,…
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