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AUD/USD chart on Trading View used for analysis
- AUD/USD is trading in a narrow range, with day's high at 0.7205 and low at 0.7185.
- The pair is extending sideways grind, major trend remains bearish.
- 110-EMA at 0.7220 and daily cloud offer stiff resistance.
- Momentum bullish, break above 110-EMA could see some upside.
- Breakout above 200-DMA required for bullish continuation. Rejection at 110-EMA will see resumption of weakness.
Support levels - 0.7170 (55-EMA), 0.7155 (21-EMA), 0.7113 (20-DMA)
Resistance levels - 0.7220 (110-EMA), 0.7322 (200-DMA), 0.7393 (Dec 3rd, 4th high)
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
