Hidden Bearish Divergence AUD-USD

FX:AUDUSD   Australian Dollar / U.S. Dollar
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Price action is making lower highs, while the MACD is making higher highs. This is known as Hidden Bearish Divergence - indicates underlying weakness for the AUD-USD currency pair.

Entry in short position is suggested when the MACD displays a downward cross over, which will act as further confirmation of hidden bearish divergence.

Take Profit just above the first traditional weekly support level (TP @ 0.85327-0.85297).

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