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Aiming to Short AUD/USD After Bounce

Aiming to Short AUD/USD After Bounce

Ilya Spivak, Head Strategist, APAC

AUDUSD is attempting to launch a recovery as expected. Prices are testing above resistance at the top of a falling channel set from April, with a close above this boundary exposing the 23.6% Fibonacci retracement at 0.9371. I will look to enter short following the bounce pending technical confirmation of ebbing bullish momentum.

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