After rejecting off the dynamic resistance and 20ema on Wednesday, the Aussie formed a double bottom at the medium term support in 1.0230. In doing so, the pair formed a pin bar reversal. Being that it was off a key support forming the double bottom, this strengthens the reversal. Corrective pullbacks into 1.0230/50 are buy setups targeting 1.0330 and the daily 20ema. A close below 1.0220 will resume the selling pressure targeting 1.0160.
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