FxGrow Daily Technical Analysis – 09th May, 2016
By FxGrow Research & Analysis Team
The Aussie decreased on weak Chinese data
The AUDUSD has been heavily sold off after Reserve Bank of Australia (RBA) prompted another cut in interest rate this year. The AUDUSD extended losses to trade below the 0.7400 zone on weaker than expected Chinese data and as the dollar surged higher last week. Breaking 0.7330 might open a lower leg to touch 0.7305 and 0.7275 respectively.
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