AUDUSD has been moving in consolidation since last Tuesday. As a result of growth lasting since Friday we are again in the area of its upper limit, where today occurred bearish reaction. Another rejection of this resistance could open the way to declines.
Looking at daily chart, we can see that potential falls could reach even level around 0.7760, which in the past was a strong resistance and now despite being defeated, has not yet been tested from the opposite side (as support). It is therefore worth considering short position on this instrument.
Looking at daily chart, we can see that potential falls could reach even level around 0.7760, which in the past was a strong resistance and now despite being defeated, has not yet been tested from the opposite side (as support). It is therefore worth considering short position on this instrument.
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