AUDUSD should have a short pullback before testing support
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AUDUSD have recently broken through the ascending channel on the 4H charts. Based on the charts, it would seem highly probable that AUDUSD will first do a pullback to the support-turned-resistance level at 0.6805 level before falling to 0.6700
Disclaimer: This is purely my market analysis and i am not making any recommendations whatsoever.
Disclaimer: This is purely my market analysis and i am not making any recommendations whatsoever.
Note
Pullback of AUDUSD was lower than expected. I will wait for any more market signals before deciding on how to play out this trade. My current opinion is that AUDUSD is currently at quite a low price (even according to weekly charts), thus a short position is not advisable.
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