The Australian dollar retreats towards the next immediate support level of the double bottom technical setup. The AUD/USD is down by some 0.45% at the time of writing and the technical analysis indicates that the 0.69000 level cannot sustain the heavy sell-off. According to financial analysts, as long as the Fed jitters exist, the risk-sensitive currencies will have a hard time gaining any ground. Analyzing the hourly chart, it looks like bears are moving in again and we can soon experience a downside extension in price if the dollar continues to rally.
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