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Reply With QuoteSupport now resistance. Watch AUD for what direction the gamblers think China will go next.
AUD/USD
AUD/USD sitting on long term support. We know China is weakening but breaking support could be a sign of even further weakness in demand for global commodities.
Notice the correlation with SPX.
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Re: AUD/USD
Support now resistance. Watch AUD for what direction the gamblers think China will go next.
Re: AUD/USD
China is still doing okay but no longer burns white hot. That's a good thing for buyers of natural resources as China is not hoarding at such a rabid pace.
Retest of that support line failed in November.
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Re: AUD/USD
AUD clawed out of the hole and broke out today. Good sign that commodity demand in China is in full swing.
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Re: AUD/USD
Way too many people thinking the dollar is doomed and are not prepared for a dollar rally here. Gold putting in that lower high is forecasting a move higher in the dollar.
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