AUDUSD Daily Analysis – Wednesday, Feb. 26

AUDUSD stays in a falling price channel on the 4-hour chart and remains in the downtrend from 0.6749. As long as the channel resistance holds, the downside movement could be expected to continue and next target would be at 0.6550 area.

Key resistance is at 0.6638, a break of this level could bring the price back towards 0.6700.

AUDUSD 4-hour chart

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