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AUDUSD technical analysis

AUDUSD Tech analysis by Simon Kazinsky on 09:34 July 19, 2016 EST

AUDUSD is again testing a Moving Average that has acted as resistance. For the past few sessions the Aussie appears weak versus most of the majors, including the troubled British pound. AUDUSD set a red candle on the weekly last week pointing to a reversal at a critical level.

The outlook appears bearish for the pair particularly if 0.72 gives way.