Reserve levels grew by nearly $80B in the last week, and are now up over $200B in the last month to ...
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AUDUSD is trading closer to its recent highs. Despite the latest bounce, the trend structure is unchanged and remains bearish. The Feb 3 fresh cycle low confirmed a continuation of the downtrend and maintains the price sequence of lower lows and lower highs. A resumption of the bear leg would open 0.6045, a Fibonacci projection. Key resistance is at 0.6302, the 50-day EMA, and 0.6331, the Jan 24 high. A clear break of both levels would be bullish.