The AUDUSD continued it’s slow and steady decline this week. The pair broke below support at 1.0320 in New York and is now resting at 1.0280. Any announcement of further economic stimulus could push the pair back near the top of its range at 1.06. If Ben Bernanke doesn’t suggest further action is in the cards. the pair could begin a slow path back towards the .97 area. The first major area of support comes in around 1.01.
Sup 1.0280 1.01
Res 1.0435 1.06
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