Strategy: Pending Short
As we suggested last week, AUDUSD moved higher after producing a Hammer candlestick above support at 0.8368, the 61.8% Fibonacci retracement of the 5/25-6/21 upswing. The pair is now on pace to test the June swing high at 0.8864. Our overall bias remains bearish and we will look for the current advance to produce an attractive selling opportunity.
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