AUD/USD holds out hope for a technical break higher this week ...Middle East

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AUD/USD holds out hope for a technical break higher this week
In the second half of February trading, AUD/USD saw a modest rebound from its lowest levels since November last year to around 0.6580-95. The rebound stalled amid a test of the 200-day moving average (blue line) at the time as well. That considering the daily closes failed to breach the key technical level. But this week, buyers are looking to make a play as seen above.The confluence of the 100 (red line) and 200-day moving averages is seen at 0.6560-63 currently. And price has broken past that point as buyers bid the pair to 0.6590 now. That shifts the bias to being more bullish but there is still that key resistance region of 0.6580-95 to shake off.And essentially, that is where we are at

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