AUDUSD is currently in a downtrend hitting a support level. Here we believe price is probable to reverse back up towards the Minor Resistance level before continuing along it's bearish path towards S2. [Short-Term]
Another very interesting pattern we have noticed is a MASSIVE "M" formation if you scroll out of the chart (Pink dotted line). If the M pattern plays out, price can go as low as S3. [Long-Term]
Trade closed: target reached
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AUDUSD has made its bounce as predicted into the TP Zone