FX:AUDUSD   Australian Dollar / U.S. Dollar
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Price in a strong monthly downtrend since 2012

Green zone of interest shows key areas of support and resistance throughout price history

4 Hour downtrend channel plotted with at least 3/4 touches on each side

Fib retracement plotted with price currently retracing to the 0.76 Fib level which is confluent with the downtrend channel

Bounce looks to be in play - heading towards the top green dotted line and the 0.5 Fib level. Watch for a test and possible break of this area before entering.

If a bearish break happens then enter short to Fib level 0 as Target 1 and -0.27 as Target 2 which is confluent with downtrend channel .
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