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AUDUSD Rejects Continued Move to the Upside, Wait for Pullback

Short
Australian Dollar / U.S. Dollar (FX:AUDUSD)  
EmpowerTrader  
FX:AUDUSD   Australian Dollar / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns
2
0
trendanalysis harmonicpatterns chartpattern
AUDUSD saw a strong rally earlier this week as the dollar was weakened by trade war optimism and Trump's bearish comment. Nevertheless, price has managed to sharply fall below support after consolidation.

Scenario One (bearish rally): Price continues to fall to the downside as key support is rejected.

Scenario Two (another test): Price jumps back up to previous levels to re-test this zone.
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