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AUDUSD : Crossed 200 Day SMA

Australian Dollar strengthened against US Dollar today after the optimistic comments by Governor of Reserve Bank of Australia. On the daily chart, the pair just crossed the 200 day Moving Average for the first time since April of last year. RBA governor Stevens said that the nation’s economy might strengthen later this year. He mentioned that the economy improved because of the lower exchange rate since April. According to the Fibonacci Retracement, the pair have crossed the 50 fib level and now heading towards the 61.8 fib level where the pair could find resistance.