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AUD/USD Update

Good day forex traders and koalas.

The AUD/USD is approaching the previous week’s high and it remains to be seen if the 1.0430 resistance will be tested.

The Australian equities market is green for now and this suggests positive sentiments. Indeed so on a global front, the UK is reporting an exit from recession among other better than expected developments in European equities.

Monitor the resistance level and fall back to shorter time frame to estimate momentum strength.

Trade safely.

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