AUSUSD momentum stalled? LOL
Just when it looked like it was done, the AUD blew straight through the support resistance line, on both continued iron demand, high prices, expanding infections in Brazil the major iron competitor. On the other side USD is showing continued weakness. And who knows htf these riots are going to end. USD will recover inevitably due to EM market demand but AUD could remain in a strong recovery trend as the Aus economy defrosts.
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