You would be well advised to confirm the breakout that has just occurred – do you believe the move through support to be significant? Do you have confirming indicators that the price momentum will continue? If so, look for a target of 0.6116 but consider reducing the size of your position as the price gets closer to that target.
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Supports and resistances are primary concepts of technical analysis. AUD/USD is heading for an important price of 0.6610 – read about what this could mean for the future.
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