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AUDUSD continue to have hopes.

AUDUSD is trading around 0.7290. Price is showing reversal signals as price has made an important low at the 61.8% Fibonacci retracement of the entire upward movement from 0.71 to 0.7475.

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The RSI has already started turning upwards. Price has most probably formed an important low. Our first target is the recent highs area of 0.7450-0.7430. Breaking above this resistance will open the way for move towards 0.76. Support is at recent lows at the 0.7230 area. As long as price is above this level, I expect price to continue its new upward move.The material has been provided by InstaForex Company - www.instaforex.com