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AUD/USD continues to pressure the downtrend line after failing to approach and reach the red downsloping line. Jumping and stabilizing above the downtrend line may signal an upside reversal.
Only a breakout above the downtrend line is not enough for us to buy this pair, that's why we have to wait for confirmation I believe that AUD/USD will develop an important upwards movement if the rate jumps also above 0.7671 former high.
AUD/USD could develop a new swing higher if the rate stabilizes above the downtrend line and if it passes above 0.7671. 0.78 psychological level could be used as an upside target.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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