AUD/USD is testing downtrend support here into the start of the month / year at the lower parallel. The focus is on possible inflection off the 2022 low / yearly open at 6170/88 over he next few days.

Bottom line: Rallies would need to be limited to 6348/62 IF price is heading lower here with a close below this pivot zone exposing the 61.8% extension of the 2021 high / 78.6% retracement of he 2020 advance at 6022/45.

Published a more in-depth review of this AUD/USD setup earlier today.

MB
AUDUSDTrend Analysis

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