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​Technical Analysis: AUDUSD bears dominate after fiscal measures from Australia and US

Even with the multi-billion dollars of stimulus, policymakers from the US and Australia fail to lure the AUDUSD buyers as the quote nosedives towards the 11-year low during early Thursday. However, 0.6430 and 0.6400 can offer intermediate rests to the bears targeting the early-week bottom near 0.6310. Given the sellers' dominance past-0.6310, February 2009 low near 0.6250 will be their favorite.

On the upside, 0.6540 and 200-bar SMA near 0.6655 can question buyers during the pair's pullback moves. In a case where the Aussie prices rally beyond 0.6655, 61.8% Fibonacci retracement level of 0.6755 and the early-February tops near 0.6775/80 can please the bulls.


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