As a result of overnight falls AUDUSD broke bottom of local consolidation. It is also worth noting that already earlier the market hit the bottom of the growth channel, which could change the general attitude of the market. Therefore, in near future we expect declines to continue. However, scenario of an earlier re-test and rejection of today’s support (now resistance), which now coincides with the 38.2% of the Fibonacci correction, could be optimal.
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Disclaimer
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