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Lucas: AUDUSD heading down under

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Steve Lucas is trading one of his favourite pairs: AUDUSD amid signals that the AUD will weaken. After a repeated pattern of lower highs and lows and with a central bank "happy" to cut rates the currency is also being chilled by slowing Chinese growth and falling commodity prices.

Steve is aiming to sell at 0.7640.    

Stop: 0.7687

Targets: 0.7550 & 0.7510

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