AUDUSD: Runs into solid selling by Reece Marini



Even after the better than expected Chinese data the Aussie has ran into a number of sellers on the 1:1 (Purple) and 50 fib that coincided at 0.89260 with the market now 30 odd pips below this resistance level. Currently the market has found some buying interest on the 1:1 (Yellow) and 38.2 fib at 0.88960 if this level can continue to attract buying interest stops above the 1:1 (Purple) high will be targeted, however a break below will see the sellers continue to push the Aussie lower with decent stops sitting below 0.88450.

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