AUD USD Traders Reluctant to Sell

The AUD USD chart pattern is a tough one to decipher. The series of lower tops and lower bottoms is indicative of topping action; however traders seem reluctant to sell weakness. Last night the Aussie showed signs of weakness by breaking through a main bottom at .7849 but ran into support slightly above a retracement price at .7761. Today"s action indicates uncertainty and position evening ahead of tomorrow"s FOMC statement.

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