AUD/USD failed to break above the resistance of the price channel on the 4-hour chart, suggesting that the pair remains in the downtrend from 0.7068.
AUD/USD failed to break above the resistance of the price channel on the 4-hour chart, suggesting that the pair remains in the downtrend from 0.7068. Further decline could be expected and the next target would be at 0.6800 area. Only break above the channel resistance could bring the price back to 0.7000 area.
Futures, options, stocks, ETFs and over the counter foreign exchange products may involve substantial risk and may not be suitable for all investors. Leverage can work against you as well as for you. You should therefore carefully consider your investment experience as well as financial condition before deciding if trading is suitable for you.
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