Australian Dollar faces rejection against the US Dollar at a 100-day moving average in the last three trading days. This neutralizes the immediate bullish outlook for the pair.
Meanwhile, breaking below 0.7174 will validate that the bulls have been exhausted and further deeper correction to 0.7100 handle can occur.
Alternatively, closing above 0.7215 on the daily basis will indicate resumption of rally from 03 January lows of 0.6744.
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