Outlook on AUDUSD
Price stands at a major resistance, previously a major support. This resistance is also a 79% retracement from the high at 0.70300 to the low at 0.55100.
My thougths are that, based on the confluence of price at a major resistance and it being at a major retracement level, we should expect a break in the current uptrend on the H4 and H1 and a move to the downside.
My thougths are that, based on the confluence of price at a major resistance and it being at a major retracement level, we should expect a break in the current uptrend on the H4 and H1 and a move to the downside.
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