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AUDUSD starting to reverse nicely, watch this space!

Short
Australian Dollar / U.S. Dollar (FX:AUDUSD)  
Tickmill Broker  
FX:AUDUSD   Australian Dollar / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns AUDUSD aud USD audusdshort audusdlong audusdforecast audusdsignal audusdsell Forex
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trendanalysis harmonicpatterns chartpattern audusd aud usd audusdshort audusdlong audusdforecast audusdsignal audusdsell forex

AUDUSD has started to test our major resistance and is reversing nicely. Our major resistance remains at 0.7988 (78.6% Fibonacci retracement, horizontal swing high resistance, bearish divergence) and a strong drop could occur at this level to push price down towards 0.7883 support (23.6% Fibonacci retracement, horizontal pullback support).

RSI (34) sees bearish divergence versus price signaling that a potential reversal is upcoming.

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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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