AUDUSD’s downside movement from 0.7813 extended to as low as 0.7472.
AUDUSD’s downside movement from 0.7813 extended to as low as 0.7472. Near-term resistance is at the falling trend line on the 4-hour chart.
As long as the trend line resistance holds, the downside movement could be expected to continue and a further decline to 0.7350 area is possible. Only a breakout of the trend line resistance could signal completion of the downtrend.
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