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Technical Analysis: AUD/USD

The pair is in a corrective mode, but trading above 1.0700, so the risks are still on the upside and the bullish resumption could continue ahead of...

The pair is in a corrective mode, but trading above 1.0700, so the risks are still on the upside and the bullish resumption could continue ahead of the 1.1000 level. The key level to watch is now 1.0600. Breaking and consolidating below would negate our outlook and extend declines towards the 50-Day SMA by 1.0250.

Edward Smith, technical analyst of company Admiral Markets.

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