AUD/USD: The latest surge looks like it could finally be ready to stall, with the market reaching key resistance by the highs from October in the 1.0700’s. Overall, our core outlook remains intensely bearish and we look for a more significant downside extension back below parity over the coming weeks. Daily studies are now officially overbought and a close below 1.0700 on Friday should encourage bearish reversal prospects.
Joel Kruger
Technical Currency Strategist
DailyFX Research Team
http://www.dailyfx.com
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