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Australian Dollar Price Action Setups: AUD/USD, AUD/JPY, GBP/AUD, AUD/NZD

February 1, 2023

Via: DailyFX

The Australian Dollar remains pointed higher against the US Dollar with prices continuing to trade within a bearish Rising Wedge. Over the past 24 hours, AUD/USD was unable to hold a drop through the 0.7009 inflection point, leaving behind a fairly long lower wick. This is placing the focus on the August 2022 high at 0.7137. A breakout above this price could open the door to uptrend resumption. Otherwise, another attempt to clear 0.7009 places the focus on the rising floor of the wedge.

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