AUDUSD dipping below 200 hour MA ...Middle East

Now, the pair is also dipping below the 200-hour moving average, currently sitting at 0.6365 (green line). Holding below this level will reinforce a bearish technical bias, especially if momentum builds.

0.6306

To shift the bias back toward the upside, bulls would need to reclaim the 200-hour MA and push above the key resistance zone around 0.6390 level.

This article was written by Greg Michalowski at www.forexlive.com.

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