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18.03.2021, 13:39

AUD/USD to face stubborn resistance at the 0.80 mark – Rabobank

FXStreet reports that economists at Rabobank discusses AUD/USD prospects.

“The next RBA meeting is scheduled for April 6 and we expect policymakers to maintain a dovish position. This could cause some pull backs towards 0.77, though we expect AUD/USD to remain relatively well supported close to current levels in the months ahead.” The better tone of AUD/USD has reduced the chances of a head and shoulders formation on the daily chart. Trendline support around 0.7629 is the potential neckline. The recent high close to 0.80 will likely act as strong resistance.”

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