CROSSES: AUD/JPY is one pair which is behaving according to its technical signals; it broke though medium-term resistance levels and then retraced exactly 38.2% (see chart). EUR/AUD is in the middle of its short-term consolidation between important levels at 1.4350/1.4750 and its best to sit and wait on this cross. Similarly, AUD/NZD should trade 1.12/1.15 but the bias remains bearish for a test of 1.10.
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