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AUD/USD gaps higher as US-China trade truce, good to long dips | December 3, 2018



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AUD/USD opens with a bullish gap after US-China trade armistice over the weekend.

While the temporary pause in the trade war has put a strong bid under the antipodeans, slight improvement in China Caixin manufacturing PMI for November adds support.

We see scope for test of 200-DMA at 0.7417. Breakout at 200-DMA could see gains till 0.77 (61.8% Fib).

Good to go long on dips, SL: 0.73, TP: 0.7415/ 0.7450/ 0.7575



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