Upper border of the descending channel tested in today's session. Expect downtrend to continue. Any break of resistance would suggest more upside in short term
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HumbleTraders
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AUDUSD advanced towards 0.8800 completing the descending channel formation. As expected, Aussie, bounced off the resistance and was trading lower since. We expect this trend to continue. We should see this market to break multi year lows in the coming weeks.
Only return above 0.88 would indicate further strength.
Only return above 0.88 would indicate further strength.