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AUD/USD Price Analysis: Snaps two-day rebound within bear flag, 0.6510 eyed
AUD/USD renews its intraday bottom around 0.6530 as it prints the first daily loss in three amid early Tuesday morning in Europe. In doing so, the Aussie pair fails to cheer broad US Dollar strength amid fears of softer economic growth in Australia. While portraying the same, the AUD/USD pair prints a bearish flag chart pattern on the hourly timeframe. Apart from the bearish chart formation, a near 50.0 level of the RSI (14) line allows the Aussie pair sellers to keep the reins. That said, a convergence of the 50-Hour Moving Average (HMA) and an ascending support line from Friday restricts the AUD/USD pair’s ... (full story)