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AUDUSD Sells Off And Closes Below Key Support

The AUDUSD sold off hard today on the back of the huge declines in Gold, Oil and other commodities over the last few days. Note that the market pushed up to just below the key resistance at 1.0600 before falling lower. Today, the market closed below the key support near 1.0350, reflecting the force of this sell-off. More downside is possible in the coming days and traders can watch for price action sell signals if the market rotates higher. Next key support is down near 1.0150 area.

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