AUD/USD Under Pressure

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By Greg Michalowski on October 1, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

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The AUDUSD has come under pressure with some interbank selling leading the way. The price is now back below the old ceiling at the 0.8788 level and will now use that level as topside resistance. On the downside, the 100 hour MA is approaching at the 0.8735 level.

Below that the 200 hour MA at the 0.8716. Look for some buyers against these levels. Corrections should be limited to the 0.8755 level where the 38.2% retracement level was just broken.

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