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LimitMarkets
Jun 4, 2018 12:17 PM

AUDUSD Short

Australian Dollar/U.S. DollarFXCM

Description

The price is almost touching the lower band of the 2-year channel at 0.7670 level. After price bounce against the band, it will aim the lower band of fresh formation at 0.7510 level. After breaking it, in long-term, the price will target the lower band of the 6-month downtrend. It seems it is the best point to sell with tight stop loss.

Good luck!
LimitFX

Comment

The parity is moving in our favor. It has already crossed 0.7510 level. Now we are observing it declining further, toward our next target: the lower band of the 6-month downtrend.
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